- U.S. payrolls below expectations for November
- Fed may not accelerate taper, analyst says
- Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
(Recasts, adds U.S. jobs report, new comment, updates prices)
The dollar surrendered most of its gains to trade little changed on Friday after the release of a disappointing U.S. jobs report that suggested the Federal Reserve could pull back from plans to accelerate tapering of its asset purchases and deliver less aggressive interest rate hikes.
U.S. non-farm payrolls increased by 210,000 jobs last month, the Labor Department reported. Economists polled by Reuters had forecast payrolls would advance by 550,000 jobs. Estimates ranged from as low as a gain of 306,000 jobs to as high as 800,000.
"With this jobs report it may give them (Fed) pause to say 'okay we don't have to accelerate in December. We can give it another few weeks until we have better data from Omicron and we know what we're dealing with,'" said Thomas Hayes, managing member at Great Hill Capital LLC in New York.
"They can keep ahead with their taper timeline, but accelerating at this point in an information vacuum where we don't have all the information on Omicron is irresponsible and hasty," said Hayes, referring to the new, highly contagious COVID-19 variant.
In early morning trading, the dollar index rose 0.1% to 96.214 USD= . The euro was slightly down at $1.1296 EUR=EBS . Against the yen, the dollar was up 01% at 113.355 JPY=EBS .
======================================================== Currency bid prices at 8:56AM (1356 GMT)Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index =USD 96.1280 96.0900 +0.06% 6.831% +96.3240 +95.9440 Euro/Dollar EUR=EBS $1.1306 $1.1301 +0.05% -7.46% +$1.1334 +$1.1282 Dollar/Yen JPY=EBS 113.3500 113.2050 +0.13% +9.71% +113.4850 +112.9600 Euro/Yen EURJPY= 128.14 127.90 +0.19% +0.96% +128.2400 +127.6800 Dollar/Swiss CHF=EBS 0.9193 0.9202 -0.09% +3.92% +0.9217 +0.9170 Sterling/Dollar GBP=D3 $1.3280 $1.3298 -0.12% -2.78% +$1.3309 +$1.3255 Dollar/Canadian CAD=D3 1.2770 1.2806 -0.29% +0.27% +1.2845 +1.2757 Aussie/Dollar AUD=D3 $0.7065 $0.7094 -0.39% -8.14% +$0.7095 +$0.7049 Euro/Swiss EURCHF= 1.0392 1.0400 -0.08% -3.84% +1.0408 +1.0387 Euro/Sterling EURGBP= 0.8510 0.8494 +0.19% -4.78% +0.8534 +0.8493 NZ NZD=D3 $0.6788 $0.6817 -0.52% -5.56% +$0.6818 +$0.6774 Dollar/DollarDollar/Norway NOK=D3 9.1000 9.0985 +0.13% +6.09% +9.1490 +9.0955 Euro/Norway EURNOK= 10.2887 10.2708 +0.17% -1.70% +10.3284 +10.2689 Dollar/Sweden SEK= 9.1211 9.0464 +0.79% +11.28% +9.1455 +9.0440 Euro/Sweden EURSEK= 10.3130 10.2324 +0.79% +2.35% +10.3260 +10.2244 <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates https://tmsnrt.rs/2RBWI5E^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
