© Reuters. Dollar remains slightly lower after U.S. jobs report
Investing.com – The dollar remained slightly lower against the other major currencies on Monday after tempered expectations for a faster rate of rate hikes by the Federal Reserve this year.
The , which measures the greenback’s strength against a basket of six major currencies, was at 89.94 by 10:13 AM ET (14:13 GMT), down 0.13% for the day.
The U.S. economy added 313,000 jobs in February, the Labor Department reported Friday, but average hourly earnings rose by just 0.1%.
The strong jobs growth boosted risk appetite, while the slowdown in wage growth dampened expectations for four rate hikes by the Fed this year, a negative for the dollar, which tends to become more attractive to yield-seeking investors when borrowing costs rise.
The euro was little changed, with last at 1.2310 after rising as high as 1.2341 earlier.
Sterling pushed higher against the softer greenback, with climbing 0.27% to 1.3889.
The pound’s gains were held in check amid fears that an upcoming later this month would fail to secure a transition arrangement.
Sterling was higher against the euro, with down 0.2% to 0.8863.
Against the yen, the dollar was lower, with down 0.24% to 106.54.
Demand for the Japanese currency was boosted amid concerns over a linked to the country’s prime minister and his wife involving the sale of public land. The safe haven yen tends to rise in times of market uncertainty.
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