U.S. Dollar Falls After Nonfarm Payrolls Data Well Below Expectations

The dollar fell Friday (Jan. 7) after the U.S. Labor Department reported a smaller-than-expected increase in nonfarm payrolls.

  • The dollar index measured the dollar’s movements against six major currencies in a basket of currencies, down 0.61% at 95.7275.
  • The US dollar weakened against the yen at 115.56 yen from 115.93 yen.
  • The dollar weakened against the Swiss franc to 0.9185 francs from 0.9223 francs.
  • The US dollar was lower against the Canadian dollar at 1.2633 Canadian dollars from 1.2728 Canadian dollars.
  • The euro was higher against the dollar at $1.1362 from $1.1287.
  • The pound rose to $1.3595 from $1.3525.
  • The Australian dollar rose to $0.7184 from $0.7165.

Investors sold off the dollar after the U.S. Labor Department announced that nonfarm payrolls rose 199,000 in December. That was well below analysts’ expectations. On the other hand, the unemployment rate fell to 3.9%.

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