01 Apr '11, 11pm

Dollar slips vs euro after Fed chief comment

NEW YORK - The dollar slipped against the euro Friday after a top Federal Reserve official suggested the central bank was not yet ready to stop priming the economy despite a positive US jobs report. The European single currency fetched $1.4225 around 2100 GMT, up from $1.4155 at the same time Thursday. The euro, benefiting from expectations of a European Central Bank interest rate hike next week, also rose to 119.49 yen. The dollar also gained against the Japanese currency. The greenback rose to 84.00 yen from 83.20 yen on Thursday, after earlier hitting a six-month high at 84.73 yen. The US economy added 216,000 jobs in March, driving the unemployment rate to a two-year low of 8.8 percent, the Labor Department reported. The positive sign of a recovering labor market initially pushed the dollar sharply higher on expectations the Fed would finally raise interest rates from ...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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