Dollar strengthens after July jobs report
The dollar strengthened Friday after official data showed the U.S. economy created 255,000 jobs in July, surpassing economists expectations. The euro fell to $1.1098 after the data, compared with $1.1128 late Thursday in New York. The dollar rose to 101.46 yen, compared with 101.21 yen late Thursday. The pound declined to $1.3082, compared with $1.3121. Economists polled by MarketWatch had predicted 185,000 new nonfarm jobs. The unemployment rate was unchanged at 4.9%, while the labor-force participation rate edged up to 62.8% as 400,000 people joined the workforce. Average hourly wages rose 0.3% to $25.69 an hour.
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