Dollar climbs after jobs data but logs seventh straight weekly fall

摘要

The U.S. dollar NSE 0.23 % bounced on Friday after U.S. job growth for July helped ease some investor worries on the U.S. labor market, but the currency logged a seventh straight week of declines. The U.S. Labor Department’s report showed nonfarm payrolls increased by 1.76 million in July. While that was more than the 1.6 million economists surveyed by Reuters had forecast, it was still sharply lower than the record 4.8 million in June. “The employment report allayed the market’s downside job fears, allowing the Dollar to rally broadly through the N.Y. session,” Ron Simpson, director of currency research at Action Economics in Tampa, Florida, wrote in a note following the data.