Dollar stable after mixed US job report

The dollar held steady against the euro on Friday after a mixed US labour report showing robust job growth but a steep fall in unemployment due to a shrinking work force. The dollar briefly spiked higher immediately after the Labour Department released its April data. The US economy added 288,000 jobs, the highest pace of growth in more than two years and well above expectations. The unemployment rate plunged to 6.3% from 6.7% in March, the lowest level since September 2008. But the cause was a sharp fall in the size of the active labour force rather than new hiring. “Steep declines in the unemployment rate and underemployment rate are only considered positive developments if it is due to quality job gains, not an exodus from the labour force,” said Jay Morelock of FTN Financial. As investors digested the mixed data, the dollar fell back to close to where it started, finishing the day at $1.3869, according to AFP.
At 2100 GMT Friday Thursday
EUR/USD $1.3869 $1.3867
USD/JPY 102.19 yen 102.30 yen
EUR/JPY 141.78 yen 141.89 yen
GBP/USD $1.6873 $1.6890
EUR/GBP 0.8220 pound 0.8210 pound
USD/CHF 0.8778 franc 0.8792 franc
EUR/CHF 1.2172 franc 1.2192 franc.