MW: Dollar falls as job losses exceed expectations
By Deborah Levine
NEW YORK (MarketWatch) -- The U.S. dollar declined Friday after the Labor Department said more jobs were lost in October than forecast, indicating continued pain for the economy. The dollar index a measure of the greenback against a trade-weighted basket of six currencies, fell to 85.680 from 86.280 in late North American trading on Thursday. The economy lost 240,000 jobs last month, more than the 210,000 estimated by economists surveyed by MarketWatch. September losses were also revised lower. The unemployment rate rose to 6.5%, the highest in 14 years Economists expected it to rise to 6.3% from 6.1%. President-elect Barack Obama is also scheduled to later give his first press conference since being elected.
