Dollar Softens After August Payrolls Report

By Markets MarketWatch Pulse

The dollar weakened Friday against its main rivals after the Labor Department said the U.S. economy created 151,000 jobs in August, moderately undershooting economists' expectations. The euro rose 0.3% to $1.1231 after the data, compared with $1.1195 late Thursday. The dollar fell 0.1% to 103.17 yen, compared with 103.25 yen. The pound gained 0.3% to $1.3308, compared with $1.3271. Friday's number drew extra scrutiny from economists and investors as many expect it to be a key factor in the Federal Reserve's interest-rate hike calculus. Last week, Federal Reserve Vice Chairman Stanley Fischer said the U.S. economy was close to full employment, and that the Fed could still raise rates twice before the end of 2016, if the data hold.

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