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Dollar drops as unemployment rate rises, wage growth misses expectations

2023-09-01 20:56
By Karen Brettell NEW YORK The dollar fell against the euro and Japanese yen on Friday after the
Dollar drops as unemployment rate rises, wage growth misses expectations

By Karen Brettell

NEW YORK The dollar fell against the euro and Japanese yen on Friday after the August jobs report showed that jobs growth and unemployment both rose more than expected during the month, while wage growth came in below economists' predictions.

Employers added 187,000 jobs in August, above expectations for a 170,000 gain. The unemployment rate rose to 3.8%, above the expected 3.5%. Average hourly earnings rose by 4.3% for the year, below expectations for a 4.4% gain.

The dollar index was last down 0.30% at 103.31. The euro rose 0.27% to $1.0872. The greenback fell 0.66% to 144.515 Japanese yen, and got as low as 144.49, the lowest since Aug. 11.

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Currency bid prices at 8:40AM (1240 GMT)

Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change

Session

Dollar index 103.3100 103.6300 -0.30% -0.174% +103.7700 +103.2600

Euro/Dollar $1.0872 $1.0843 +0.27% +1.47% +$1.0882 +$1.0829

Dollar/Yen 144.5150 145.5450 -0.66% +10.27% +145.6950 +144.4900

Euro/Yen 157.13 157.80 -0.42% +12.00% +157.9600 +157.1400

Dollar/Swiss 0.8803 0.8834 -0.33% -4.79% +0.8843 +0.8796

Sterling/Dollar $1.2704 $1.2672 +0.26% +5.05% +$1.2712 +$1.2640

Dollar/Canadian 1.3538 1.3509 +0.19% -0.10% +1.3538 +1.3490

Aussie/Dollar $0.6512 $0.6485 +0.42% -4.46% +$0.6519 +$0.6446

Euro/Swiss 0.9570 0.9576 -0.06% -3.28% +0.9582 +0.9566

Euro/Sterling 0.8556 0.8554 +0.02% -3.26% +0.8573 +0.8549

NZ $0.6003 $0.5966 +0.62% -5.46% +$0.6009 +$0.5945

Dollar/Dollar

Dollar/Norway 10.5390 10.6260 -0.37% +7.88% +10.6550 +10.5870

Euro/Norway 11.4650 11.5270 -0.54% +9.26% +11.5518 +11.4576

Dollar/Sweden 10.9129 10.9484 -0.09% +4.85% +10.9878 +10.8956

Euro/Sweden 11.8656 11.8764 -0.09% +6.43% +11.9085 +11.8630

(Reporting by Karen Brettell; Editing by Alex Richardson)