Dollar Mixed on Job News

The dollar was mixed against major currencies Friday, as investors took the news of the high number of U.S. December job losses in stride.

The greenback was boosted on the slightly better-than-expected news of 524,0000 jobs lost in December, according to John Kicklighter. That's because some speculators may have been expecting a higher figure, as was the case in November when job losses exceeded many forecasts, he said.
The lower than expected losses sparked a slight dollar rally, but the movement was due "more on relief and repositioning than any belief that the worst is behind [us]," according to a research note from Sacha Tihanyi, currency strategist at Scotia Capital.

The Labor Department also reported that the unemployment rate rose to 7.2% last month from 6.7% in November - its highest rate since January 1993.
The pound had been gaining against the dollar for five consecutive days, but was largely unchanged late Friday, ended slightly lower against the dollar.
The British pound fell 0.25% against the dollar to $1.5178 from $1.5197 late Thursday.

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