U.S. Dollar Extending Upward Move Following Monthly Jobs Data
(RTTNews) - Extending the upward move seen during light holiday trading last Friday, the value of the U.S. dollar has moved to the upside during trading on Monday.
The U.S. dollar index has risen 0.46 points or 0.5 percent to 102.55, climbing further off the two-month low set last week.
The greenback is trading at 133.62 yen versus the 132.16 yen it fetched on Friday. Against the euro, the dollar is trading at $1.0.862 compared to last Friday's $1.0905.
The advance by the U.S. dollar comes as traders continue to react to the Labor Department's closely watched monthly jobs report.
The report said non-farm payroll employment climbed by 236,000 jobs in March after jumping by an upwardly revised 326,000 jobs in February.
Economists had expected employment to rise by about 240,000 jobs compared to the addition of 311,000 jobs originally reported for the previous month.
Meanwhile, the Labor Department said the unemployment rate edged down to 3.5 percent in March from 3.6 percent in February. The unemployment rate was expected to be unchanged.
Traders are also looking ahead to key inflation data later in the week along with reports on retail sales and industrial production as well as the minutes of the latest Federal Reserve meeting.
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