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Dollar ends lower after US jobs data jump

New York - The US dollar traded lower against the euro late on Thursday, erasing an early jump from a solid improvement in jobless claims data that suggested the employment market is getting better.

The dollar surged to $1.3206 per one euro quickly after the jobs data came out, suggesting more impetus for the Federal Reserve to move toward tighter money.

That came along with sharp spikes in yields on US Treasury bonds, to their highest levels in two years.

But other data suggesting weaker growth, including a low inflation read, offset the good jobless claims numbers and the greenback fell back, as did bond yields.

At 21:00 GMT the euro was trading $1.3346, compared to $1.3255 late on Wednesday.

"The volatility in the US dollar today reflects uncertainty about the outlook for the US economy," said Kathy Lien of BK Asset Management.

"While tapering by the Federal Reserve is inevitable, the latest US economic reports make investors wonder if the central bank is acting prematurely" in moving toward a reduction of its stimulus programme.

The yen meanwhile strengthened after the Japanese cabinet maintained its view that the economy continues to pick up strength.

The dollar bought ¥97.36, compared to ¥98.14 on Wednesday, and the euro was at ¥129.96, down from ¥130.08

The British pound gained to $1.5639 from $1.5501, and the dollar fell to 0.9258 Swiss franc, from 0.9354 franc.

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