Saturday 1 October 2016

Dollar falls against Euro over weak job figures

Published 03/04/2015 | 14:17

Federal Reserve Chair Janet Yellen
Federal Reserve Chair Janet Yellen

Weaker than expected job figures in the US have sent the dollar sharply lower against the euro.

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The number of US jobs increased at the slowest pace in more than a year in March, a sign the economy there may have been hurt by a strong dollar and lower oil prices.

The dollar which has been approaching parity with the euro in recent weeks fell sharply after the news to more than €1.10005 from €1.087within minutes of the news.

The 126,000 increase in payrolls was weaker than expected.

The US unemployment rate was unchanged at 5.5pc however, and average hourly pay was stronger than a year ago.

With many stock markets including in the US shut the currency market is feeling the main impact of the jobs data.

The dollar has risen strongly against the euro in recent weeks, a boon to Irish exporters but a challenge for US industry.

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