Forex – Dollar Index Trims Gains After NFP Miss

© Reuters. Dollar pulls back from session highs after U.S. data disappoints

Investing.com – The dollar trimmed gains against other major currencies on Friday, after data showed that the U.S. economy added less jobs than expected last month, dampening optimism over the U.S. economy.

The U.S. Department of Labor reported on Friday that the economy added in December, disappointing expectations for an increase of 185,000. The unemployment rate remained unchanged at , as expected.

The report also showed that U.S. average hourly earnings rose last month, in line with projections.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 91.61 by 08:40 a.m. ET (12:40 GMT), off session highs of 91.82.

The euro was steady, with at 1.2071, while rose 0.21% to 1.3575.

Data earlier showed that euro zone inflation in December, while another report showed that increased more than expected in November.

The yen remained weaker, with up 0.28% at 113.07, while was little changed at 0.9745.

Elsewhere, the Australian dollar was almost unchanged, with at 0.7868, while advanced 0.45% to 0.7185.

Meanwhile, tumbled 0.90% to a four-month low of 1.2374 after Statistics Canada reported that the number of employed people climbed in December, blowing past expectations for a 1,000 rise.

Canada’s unemployment rate ticked down to in December from 5.9% the previous month, confounding expectations for a rise to 6.0%.

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