MW: Dollar up on weaker-than-forecast payrolls rise
By William L. Watts
LONDON (MarketWatch) -- A smaller-than-expected increase in U.S. non-farm payrolls saw the dollar rise versus most major rivals Friday as investors sold equities. The euro (CUR_EURUSD 1.2041, -0.0120, -0.9868%) , which had already hit a new four-year low versus the dollar earlier in the session, extended its loss to trade at $1.2047, down 1% on the day. The British pound (CUR_GBPUSD 1.4575, -0.0042, -0.2873%) fell 0.5% to $1.4552. The dollar lost ground versus the Japanese currency (CUR_USDYEN 92.0500, -0.5300, -0.5725%) , however, trading at 92.03 yen, a loss of 0.6% on the day. The Labor Department said non-farm payrolls rose by 431,000 in May, including 411,000 temporary Census jobs. Economists had forecast a non-farm payrolls rise of 540,000.
