Dollar Rises On Strong Jobs Data
After exhibiting some weakness early on in the day, the U.S. dollar moved higher on Friday, riding on strong U.S. monthly jobs data and amid optimism the U.S. and China will agree on a phase one trade deal before the next hike in tariffs on Chinese imports come into effect later this month. The dollar index, which eased to 97.36 at the start, rallied to 97.84 by mid morning, and was later seen at 97.70, up nearly 0.3% from previous close. Against the euro, the dollar strengthened to 1.1061, gaining about 0.4%, from previous close of $1.1103. Against pound sterling, the dollar recovered to 1.3133 from a low of 1.3167. The Japanese yen strengthened against the dollar, rising to 108.56 a dollar, after having weakened to 108.91 yen a dollar in early trades. The dollar was down slightly against the Aussie with the AUD-USD pair trading at 0.6841. Against Swiss franc, the dollar rose to 09899, up 0.27% from previous close, while against the Loonie, it rose to 1.3257, adding more than 0.6%. In Canadian economic news, data from Statistics Canada said the Canadian economy lost 71,200 jobs in November of 2019 after shedding 1,800 jobs in the previous month….