Dollar Falls as Report Shows U.S. Jobs Growth Slowed
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The dollar fell from a 14-month high after a report showed employers added the fewest jobs this year in August, damping speculation the Federal Reserve will raise interest rates sooner than anticipated.
The Bloomberg Dollar Spot Index pared a weekly gain after Labor Department data showed employment grew by 142,000 jobs, versus a Bloomberg survey forecast of 230,000. The yen gained from the weakest level in almost six years and the euro rose from almost a 14-month low. The currencies fell yesterday as the Bank of Japan maintained its unprecedented stimulus and the European Central Bank cut interest rates.