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U.S. Dollar Falls After Jobs Report

The U.S. dollar declined against other major currencies on Monday as investors continued to digest the latest jobs data from the country.

U.S. total nonfarm payroll employment increased by 313,000 in February and the unemployment rate was unchanged at 4.1 percent, said the U.S. Labor Department on Friday. Economists had expected a gain of 200,000 jobs.

In February, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to 26.75 U.S. dollars. Over the year, average hourly earnings have increased by 68 cents, or 2.6 percent, lower than market expectations.

Analysts said the soft wages growth dented market expectations for the Federal Reserve to raise interest rates for more than three times later this year.

The dollar index, which measures the greenback against six major peers, was down 0.22 percent at 89.899 in late trading.

In late New York trading, the euro increased to 1.2336 dollars from 1.2313 dollars in the previous session, and the British pound rose to 1.3906 dollars from 1.3848 U.S. dollars in the previous session. The Australian dollar rose to 0.7877 dollar from 0.7847 dollar.

The U.S. dollar bought 106.37 Japanese yen, lower than 106.79 Japanese yen of the previous session. The U.S. dollar was down to 0.9466 Swiss franc from 0.9510 Swiss franc, and it fell to 1.2828 Canadian dollars from 1.2833 Canadian dollars.

(www.chinaview.cn 2018-03-13)