Dow Jones – The dollar fell Friday after US employment data fell short of expectations.
The Wall Street Journal Dollar Index, which measures the US currency against a basket of 16 others, was recently down 0.2% to 87.55.
US non-farm payrolls rose a seasonally adjusted 261,000 in October, while the unemployment rate ticked down to 4.1%, its lowest level since December 2000. Economists surveyed by The Wall Street Journal had expected 315,000 new jobs and a 4.2% unemployment rate last month.
While Friday's payrolls data suggest that the labour market remains on a solid trajectory, it does little to bolster the case for the Federal Reserve to tighten monetary policy at a faster pace than expected next year. Expectations of rising rates tend to boost the dollar, as rising borrowing costs make the currency more attractive to investors seeking yield.