Dollar Falls to 3-Month Low as Jobs Data Trail Forecast
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The dollar weakened to a three-month low against the euro as U.S. employers added fewer jobs in August than forecast, boosting speculation the Federal Reserve will increase its monetary stimulus.
The Dollar Index dropped to the weakest level since May 11 as the extra liquidity from a third round of asset purchases by the U.S. central bank, known as quantitative easing, may debase the currency. Canada’s dollar rallied to its strongest in a year versus the U.S. currency after the nation added more jobs than projected, fueling expectations of a central bank interest-rate increase. The Swiss franc fell to the weakest since January against the euro.