The U.S. Dollar weakens

The dollar index DXY weakens after the release of U.S. labor market data, which came in much lower than expected. As a result, investors do not expect the Fed to begin tapering its quantitative easing (QE) bond-buying program after its monetary policy meeting on September 21-22.

The DXY, which measures the dollar’s performance against the six major currencies in the currency basket, fell 0.21% to 92.0327.

The dollar weakened against the yen to 109.62 yen from 109.96 yen.

The dollar weakened against the Swiss franc to 0.9132 francs, down from 0.9146 francs.

The dollar was lower against the Canadian dollar at CAD 1.2513, down from CAD 1.2554.

The euro gained against the dollar, trading at $1.1889, up from $1.1874.

The pound strengthened against the U.S. dollar to $1.3879 from $1.3839.

The Australian dollar rose against the U.S. dollar to $0.7458 from $0.403.

Weakening of the U.S. dollar.

After a lower-than-expected nonfarm payroll gain, nonfarm payrolls increased by only 235,000 jobs in August, below the estimated 720,000 jobs.

Meanwhile, the unemployment rate in August was in line with analysts’ expectations of 5.2%. This follows a rate of 5.4% in July.

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