US Dollar Falls as Risk Appetite Improves

NEW YORK, May 5 (Xinhua) — The US dollar fell in late trading on Friday as investor risk appetite improved amid better-than-expected US employment data for April.

The Dollar Index, which measures the US dollar against six major currencies, fell 0.18% at 101.2128 in late trading.

In late trading in New York, the euro rose to $1.1025 from $1.1015 in the opening session and the British pound rose to $1.2640 from $1.2578 in the opening session.

The US dollar bought 134.7650 yen, higher than 134.1790 yen in the previous session. The US dollar rose from 0.8858 Swiss francs to 0.8905 Swiss francs and fell from 1.3538 Canadian dollars to 1.3377 Canadian dollars. US Dollar fell from 10.2423 Swedish Krona to 10.1554 Swedish Krona.

The US Department of Labor reported Friday that nonfarm payrolls increased by 253,000 in April, beating economists’ expectations of 178,000. However, March growth was revised from 236,000 to 165,000.

The US unemployment rate was 3.4% in April, down from 3.5% in March. Economists had expected a reading of 3.6%. Average hourly wages increased by 0.5% month-on-month in April, while market consensus forecasts and the previous month’s growth rate were both 0.3%.

“Amid recession fears, banking sector volatility and continued job cuts, it is encouraging to see strong employment data,” said Steve Rick. We expect the signs to ease market volatility in the coming months.” CUNA Mutual Group’s chief economist said on Friday.

“As long as the labor market is healthy, we’ll keep the economy strong enough for consumers to spend,” Quincy said. “We’ll keep the economy strong enough for the Federal Reserve to worry about inflation. ‘ said. Crosby, chief of LPL Financial and his global strategist, said on Friday:

Eurostat reported Friday that eurozone retail sales fell 1.2% month-on-month in March, below economists’ expectations of 0.1% growth. The month-on-month rate for February was revised upward from -0.8% to -0.2%.