RTRS: Dollar erases gains vs euro, near session lows
NEW YORK (Reuters) - The dollar gave up gains against the euro on Friday, with traders likely reassessing the impact of a weak September U.S. jobs report on the economy.
Investors initially bought the dollar versus the euro after the release of the jobs data in a flight-to-safety bid. But dollar gains were modest and analysts suggested caution in buying the U.S. currency amid signs the economy's recovery could stall with persistent job losses.
The U.S. Labor Department said job losses last month were 263,000, far above market expectations, with the unemployment rate rising, as expected, to 9.8 percent.
The euro turned higher, hitting session highs at $1.4566, according to Reuters data.
