The dollar showed modest strength against the euro on Friday, staying near a monthly high after official data revealed solid U.S. jobs gains in March.
The Labor Department said U.S. non-farm payroll employment rose by 192,000 jobs and unemployment rate stayed at 6.7 percent.
The jobs numbers may heighten speculation that the Federal Reserve will wind down its stimulus program by year’s end.
“The U.S. economy continues to create jobs at a good but not great pace that we should be seeing this far into the recovery,” Peter Boockvar, managing director at the Lindsey Group, said.
He added, “It is good enough however for the Fed to continue its taper, especially again at month end, but not good enough we believe to get the 3%+ GDP growth rate that we all hope for.”
The buck was steady at $1.37 versus the euro, having bounced between $1.367 and $1.373 over the course of the session.
Positive German manufacturing data gave the euro a bit of a lift in very early deals.
Germany’s factory new order growth exceeded expectations on robust domestic demand in February, official data showed Friday.
Factory orders advanced 0.6 percent from the previous month, Destatis said.
Meanwhile, the dollar nudged up slightly to $1.6560 versus the sterling.
A multi-month high of Y104 versus the yen was short-lived. The pair was back to Y103.30 by mid-day.
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