Market News
US dollar rises on mixed jobs report, trade war threat - REUTERS
By Hannah Lang
Summary
- Dollar up after US payrolls report
- U.S. job growth slowed in January
- Trump plans to announce reciprocal tariffs next week
NEW YORK, Feb 7 (Reuters) - The dollar rose in choppy trading on Friday after data showed that U.S. job growth slowed in January but that the unemployment rate edged down to 4.0%, giving the U.S. Federal Reserve cover to hold off cutting interest rates until at least June.
The U.S. currency was also boosted by comments from President Donald Trump that he plans to announce reciprocal tariffs on many countries next week, without specifying which countries.
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The dollar index , which measures the U.S. currency against the yen, sterling and other peers, was last up 0.353% at 108.04. It was on track for a weekly fall after investor fears about a global trade war receded.
Nonfarm payrolls increased by 143,000 jobs last month after rising by an upwardly revised 307,000 in December, the Labor Department's Bureau of Labor Statistics said in its closely watched employment report.
