The euro cemented its third straight week of gains against the dollar Friday after a surprisingly weak nonfarm payrolls report.The report helped the euro climb 1% against the dollar in light trading. Stock markets in the U.S. and Europe were closed for Good Friday.
The Department of Labor said the U.S. economy added 126,000 jobs in March, missing a consensus forecast for 243,000 from a MarketWatch poll of analysts.
The data likely took a June Federal-funds rate increase off the table, and even cast doubt on the a September hike, said Matt Weller, senior technical analyst at Forex.com.
The euro was EURUSD, +0.85% trading at $1.0977, off its session high of $1.1027. It traded at $1.0880 late Thursday.
The dollar USDJPY, -0.63% was at ¥118.96, compared with ¥119.70 late Thursday in New York.
The WSJ Dollar Index BUXX, -0.69% a measure of the dollar against a basket of major currencies, was down 1% at 86.35. The ICE U.S. Dollar Index DXY, -0.81% a measure of the buck’s strength against six rivals, rose 0.2% to 96.7530.
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