Euro falls to $1.11, dollar at 13-year peak against yen after U.S. data

Euro falls to $1.11, dollar at 13-year peak against yen after U.S. data

5 June 2015, 16:57
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On Friday the euro plunged below $1.11, while dollar was sharply higher after release of strong employment data. Concerns over Greek default continued to weigh on the single currency.

The dollar index, which measures the greenback against its six major rivals, was up 1.14 percent at 96.557.

The euro was last down 1.13 percent against the dollar at $1.1111 after hitting a more than two-week high of $1.138000 on Thursday.

The dollar was last up 0.93% against the yen to settle at 125.52 yen.

The dollar was last up 1.33% against the Swiss franc to trade at 0.9460 franc.

The U.S. Department of Labor said in a report that the economy added 280,000 jobs in May, exceeding expectations for an increase of 225,000. However, April's figure was revised to a 221,000 rise from a previously estimated gain of 223,000.

The unemployment rate crept up to 5.5 percent as more people entered the labor force, while hourly earnings rose from a year ago by the most since August 2013.

Retailers hired a net 31,400 workers and employment in leisure and hospitality jumped 57,000. Payrolls at temporary-help agencies climbed 20,100.

Meanwhile, the average workweek for all employees held at 34.5 hours, the Labor Department’s report signaled.

Meanwhile in the euro area, Greek Prime Minister Alexis Tsipras has rejected proposals by creditors to help unfreeze more aid to help with repayments. German Chancellor Angela Merkel said "we’re still far from reaching a conclusion." The comments followed late night talks with Greek Prime Minister Alexis Tsipras on Thursday.

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