Dollar rises against euro after weak jobs data

Dollar rises to 2-week high vs euro, 2-month low against yen, after weak US jobs report

Associated Press

NEW YORK (AP) -- The dollar rose to a two-week high against the euro after the U.S. government released a weaker-than-expected jobs report.

The Labor Department said Friday that the economy added 115,000 jobs in April. Economists expected a gain of 163,000 jobs.

The unemployment rate fell to 8.1 percent in April from 8.2 percent in March, but mostly because more people gave up looking for work.

Traders tend to buy the dollar and the yen, two currencies they consider safe havens, when they are concerned about the economy.

The euro fell to $1.3082 in midday trading, its lowest point against the dollar since April 19. It was worth $1.3151 Thursday.

The dollar fell to 79.56 Japanese yen, its lowest point against the yen since Feb. 21.

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