MW: Dollar pares gains after worse-than-expected jobs report
By Deborah Levine
NEW YORK (MarketWatch) -- The U.S. dollar pared gains Friday after the Labor Department said the economy lost 533,000 jobs in November, more than economists expected. The dollar index ,which tracks the performance of the dollar against a trade-weighted basket of six major currencies, rose to 87.013, up from 86.533 in North American activity late Thursday. Economists surveyed by MarketWatch predicted 350,000 jobs would be cut. The unemployment rate rose to 6.7%, the highest since 1993. Expectations were for an increase to 6.8%. The euro slumped to $1.2695, down from $1.2786, pressured after Germany's economics ministry reported an unexpectedly large drop in October manufacturing orders.
