The dollar sank against the euro and yen Friday after a reading on April employment gains came in well below expectations. The Labor Department said the U.S. economy created just 160,000 jobs last month, according to the data, the worst monthly performance since September. The dollar tumbled to 106.55 yen after the data, from 106.96 yen shortly before. The euro rose to $1.1454 afterward, up from $1.1425 beforehand. The pound rose to $1.4511, up from $1.4500 shortly before. The data appeared to confirm signs of lackluster jobs growth released earlier in the week, including a weak reading on private-sector employment from Automatic Data Processing Inc. Economists polled by MarketWatch forecast gains of 193,000 jobs.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News