Story thread · 26 reports / 13 sources

Dollar drops as weak US jobs data pushes out Fed hike expectations

economictimes.indiatimes.com · 3dShare

The dollar fell against major currencies including the yen and ​euro on Friday after U.S. employment ​unexpectedly declined in July, fueling concerns about the economy's strength and ​undermining the case for the Federal Reserve to raise interest rates.The U.S. economy lost 23,000 jobs in July, the Labor Department said, compared with economists' expectations for an increase of 80,000 jobs, according to a ‌Reuters poll. The U.S. ⁠unemployment ⁠rate fell to 4.1% as the labor participation rate fell to a near a five-and-a-half year low of 61.4%.The ​dollar weakened against the yen after the report, shedding gains made in recent days in the aftermath ​of a historic intervention last week between Japanese and U.S. authorities, which had pushed it to a 13-week low.It was last down 0.57% to 157.56 yen but on track for ​a weekly gain of about 0.10%.The euro was last up ⁠0.39% against ‌the dollar at $1.1568. It is on track for a weekly gain ​of 0.41% against the ​dollar.The dollar's decline re

First report: Yen and dollar drift on Iran deal concerns, payroll jitters — reuters.com, 5d