Currencies: Dollar Pumped Up by Good U.S. Jobs Data - TheStreet

The dollar got a boost after the release of this morning's highly anticipated U.S.

jobs data after slipping further earlier on yen-strengthening comments out of Japan.

The long-awaited unemployment data showed that the jobless rate dropped to 4.4% in May, down from 4.5% in the previous month. A rise to 4.6% had been expected. The positive news sent the dollar up from the day's lows hit in the wake of commentary from Japan's Finance Minister,

Masayuro Shiokawa


Earlier this morning, Shiokawa echoed sentiment expressed yesterday by

European Central Bank

members that the sharply weakened euro and definitively stronger yen aren't prompting central bank intervention. That sent the yen shooting higher yet again this morning, reaching a new three-month high against the dollar, and dropping below 100 yen per euro for the first time in over five months.

The euro most recently traded for 100.29 yen per euro, down from yesterday's close of 100.75 yen per euro, while the dollar recently priced at 118.65 yen per dollar, also a step down from its last close of 119.20 yen.

The dollar slipped earlier against the euro, but popped it back up to near yesterday's close after the positive jobs report. The euro was lately trading for $0.8451 recently, barely off Thursday's close of $0.8456.

A slightly delayed reaction to yesterday's strong Canadian economic growth numbers sent the U.S. dollar sliding to C$1.5297 this morning, from C$1.5378 at last close. The Canadian government yesterday reported that its economy grew at an annualized rate of 2.5% in the first quarter of this year, well above expectations of a 1.8% growth rate.

The Australian dollar strengthened a little to $0.5090 recently, up a bit from yesterday's close of $0.5056. The British pound weakened in value against the dollar, trading recently for $1.4130, down from $1.4178 yesterday.

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