Share

Dollar gains vs euro, yen on US jobs report

Washington - The dollar gained on the euro and yen Friday after a lackluster US jobs report that supported a Federal Reserve rate rise later this year but not necessarily this month.

The US economy pumped out 151 000 net new jobs in August, below the 180 000 expected.

It was a solid number, and analysts split on whether it was enough for the Fed to act at its meeting later this month.

"Although the data wasn't as strong as the market had expected, it was pretty much good enough that there is a possibility of a Fed hike in September," said Boris Schlossberg of BK Asset management.

But Unicredit's Harm Bandholz said the jobs number was not as high as the Fed is looking for, and that he expects the Fed to act in December.

"As the August numbers have tended to come in on the softer side in the past, we think that this mostly reflects seasonal adjustment problems rather than underlying weakness," he said in a note.

The dollar hit a one-month high against the yen at 103.99 yen. It fell slightly on the pound, to $1.3294.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.95
-0.1%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.42
+0.1%
Rand - Aus dollar
12.34
+0.0%
Rand - Yen
0.13
-0.1%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders