SH: FX round-up Dollar tumbles as US counts job losses
LONDON (SHARECAST) - The dollar tumbled on Friday as the US recorded more job losses, dashing hopes of a slight increase in payrolls.
The dollar index, which tracks the greenback against a basket of six others, fell to 77.40 after the data.
The dollar fell over 1% to 92.61 yen as the market digested the disappointing jobs data while the euro rose 0.8% against the dollar despite weaker than expected jobs data from the EU.
Figures from Eurostat on Friday said unemployment in the euro zone hit 10% in November, despite forecasts of a rate of 9.9%, unchanged from October. Unemployment in the region is now at an 11 year high.
Sterling rose above 1.6100 on in afternoon trading on Friday, a day after the Bank of England's Monetary Policy Committee decision Thursday. As widely expected, the BoE held its key lending rate unchanged at 0.5%.
