Dollar Edges Higher Vs. Euro After Jobs Report

By Joseph AdinolfiMarketWatch Pulse

The dollar strengthened against its main rivals after the release of the Labor Department's report on job gains in January. According to the data, the economy added 151,000 jobs in January. Though the headline number came in short of expectations, analysts found a silver lining in a stronger-than-expected hourly wage growth number, and a 0.1% drop in the national unemployment rate, according to a note from Naeem Aslam, chief market analyst at AvaTrade. Economists polled by MarketWatch had expected a monthly gain of 180,000 jobs. The ICE U.S. Dollar index , a measure of the dollar's strength against a basket of six rival currencies, turned higher on the day after the data, reversing an earlier decline. The index was up 0.1% at 96.5190. The euro traded at $1.1192 after the data, down from, $1.1209 shortly before. The dollar traded at 116.74 yen after the data, little-changed from its level before the report. The pound traded at $1.4520, down from $1.4566 before the data.

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