U.S. Dollar Climbs Off Worst Levels But Continues To See Moderate Weakness
(RTTNews) - The U.S. dollar is seeing moderate weakness during trading on Friday, extending the downward move seen over the past week amid concerns about the impact of President Donald Trump's new tariffs.
The U.S. dollar index has regained some ground after hitting its lowest level in four months but remains down 0.28 points or 0.3 percent at 103.78.
The greenback is trading at 147.93 yen versus the 147.98 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.0846 compared to yesterday's $1.0785.
The weakness in the value of the U.S. dollar comes after the Labor Department released a report showing employment in the U.S. increased by slightly less than expected in the month of February.
The closely watched report said non-farm payroll employment climbed by 151,000 jobs in February after rising by a downwardly revised 125,000 jobs in January.
Economists had expected employment to grow by 160,000 jobs compared to the addition of 143,000 jobs originally reported for the previous month.
The report also said the unemployment crept up to 4.1 percent in February from 4.1 percent in January, while economists had expected the unemployment rate to remain unchanged.
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