TD: Euro rises against dollar in afternooon trading, buys US$1.3258 after disappointing US jobs report
BERLIN (AP) - The euro has risen against the dollar after a closely watched report showed that U.S. employers added jobs at only a weak pace in July.
The 16-nation currency bought US$1.3258 in Friday afternoon European trading, up from US$1.3179 in New York late Thursday. The British pound climbed to US$1.5941 from US$1.5878, and the dollar declined to 85.08 Japanese yen from 85.87 yen.
The U.S. Labor Department said companies added a net total of 71,000 jobs in July, far below the roughly 200,000 needed each month to reduce the unemployment rate, and fewer than economists had forecast.
The department also said that businesses hired fewer workers in June than it had previously estimated.
Gloom about slowing U.S. growth has coincided with optimism about a better European outlook.
