Market Commentary and Intraday News
Dollar soars on positive US jobs data
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(AP:NEW YORK) The dollar is rising against most major currencies after more jobs were created last month in the U.S. than expected, sending the unemployment rate to a four-year low.
The euro fell to $1.2981 in afternoon trading from $1.3104 late Thursday. Earlier, the euro fell to $1.2954, its lowest point against the dollar since Dec. 11, 2012.
The Labor Department said 236,000 were added in February and that the unemployment rate fell to 7.7 percent from 7.9 percent in January. Economists expected the economy to add 152,000 jobs.
The British pound fell to $1.4940 from $1.5018.
The dollar rose to 95.70 Japanese yen from 94.85 Japanese yen and to 0.9525 Swiss franc from 0.9427 Swiss franc.
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