Dollar Strengthens After July Jobs Report

By Joseph AdinolfiMarketsMarketWatch Pulse

The dollar strengthened Friday after official data showed the U.S. economy created 255,000 jobs in July, surpassing economists expectations. The euro fell to $1.1098 after the data, compared with $1.1128 late Thursday in New York. The dollar rose to 101.46 yen, compared with 101.21 yen late Thursday. The pound declined to $1.3082, compared with $1.3121. Economists polled by MarketWatch had predicted 185,000 new nonfarm jobs. The unemployment rate was unchanged at 4.9%, while the labor-force participation rate edged up to 62.8% as 400,000 people joined the workforce. Average hourly wages rose 0.3% to $25.69 an hour.

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