Major Forex News
Dollar Falls Versus Euro as U.S. Jobs Trail Forecast; Yen Drops
The dollar declined to the lowest level in more than a week against the euro after U.S. employers added fewer jobs in March than forecast, fueling speculation growth in the world’s biggest economy is slowing.
The greenback fell for a third day versus the shared currency on bets the payrolls data will stiffen the Federal Reserve’s determination to maintain bond purchases to spur growth. The yen touched the weakest level since 2009 versus the greenback a day after the Bank of Japan (8301) outstripped forecasts and announced unprecedented economic stimulus measures.
The dollar depreciated 0.4 percent to $1.2991 per euro at 5 p.m. in New York. The greenback fell as low as $1.3040, the weakest level since March 25. It gained earlier to $1.2901, approaching its 200-day moving average at $1.2894. Moving averages, which indicate momentum, are seen by some traders as potential turning points. The dollar weakened 1.3 percent versus the euro over the past five days, its first weekly loss since March 15 and its biggest since January.
The U.S. currency climbed 1.3 percent to 97.57 yen and reached 97.83, its strongest level since June 2009.
The greenback gained 3.6 percent this week against the yen, snapping a three-week losing streak
