Dollar rebounds after robust US jobs report
Friday, 4 January 2019 23:22 WIB | CURRENCIES |DOLLARDolar AS

The U.S. dollar rose against the yen and the euro on Friday after data showed U.S. job growth surged in December, which could help allay recent worries about the health of the economy that have roiled financial markets.

The dollar was 0.72 percent higher against the Japanese yen and the euro fell 0.34 percent against the greenback.

The upbeat Labor Department employment report contrasted starkly with reports this week showing Chinese factory activity contracting for the first time in 19 months in December and weak manufacturing across much of Europe and Asia.

The dollar, which had slipped against the safe-haven Japanese yen in recent days amid growing worries about a slowdown in global growth, found support earlier in the session after China announced new measures to support its economy and hopes grew that upcoming U.S.-China trade talks would make some progress.

On Friday, currencies such as the Australian dollar recovered after being hit hard in Thursday's scramble for safety. The Aussie gained 0.69 percent.

The euro weakened after a survey showed that euro zone business activity fell to a four-year low in late 2018 and official data showed that inflation in December had slowed by more than expected.

Sterling was little changed on Friday after suffering heavy losses spurred by fears of a global economic slowdown.

Source: Reuters

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