Dollar Soars After Blockbuster June Jobs Number

The dollar soared Friday against its main rivals after a blockbuster June jobs number allayed concerns about a surprisingly weak reading in the prior month. The dollar jumped to 101.13 yen after the data, compared with 100.38 yen shortly beforehand. The euro fell to $1.1020, compared with $1.1078. The pound dropped to $1.2935, from $1.2972. The Labor Department said the U.S. economy created 287,000 nonfarm jobs in June, surpassing expectations for 170,000 new jobs from a survey of economists conducted by MarketWatch. Meanwhile, the Canadian dollar tumbled against its U.S. rival after a monthly report on the Canadian labor market showed a slower-than-expected rate of jobs growth. The loonie weakened to 76.63 cents after the data, compared with 76.90 shortly beforehand.

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