The dollar weakened against the euro in London on Friday after a brief spike on a strong US job creation report, which went no further than cementing expectations of a US interest rate hike of a quarter point on June 30.
The single European currency in late-day deals was at US$1.2258 against US$1.2225 in New York late on Thursday.
The dollar was trading at ?111.25 after ?110.80 on Thursday.
Crucial data from the US Labor Department showed that 248,000 jobs were created last month, above predictions of 218,000 rise and taking the three-month total to 947,00 -- the best three-month gain since the summer of 2000.
While the data was strong, it was not robust enough to signal a half-point hike by the US Federal Reserve on June 30.
And, as a quarter-point hike was fully priced in, some of those expecting a bigger gain sold the dollar.
The euro slipped to a low of US$1.2142 before rising to a high of US$1.2272, then settling back slightly.
"Expectations of the coming measured hike in US interest rates have left the dollar weaker today, but is unlikely to change its range-bound behavior ahead of the Fed's decision," said Michael Woolfolk, currency strategist at Bank of New York.
The dollar's initial reaction to the report was both "violent and indecisive," he said, adding that the net reaction to the employment report was positive for US equities but negative for the dollar.
"With global financial markets keying on this report, the print was destined to have a strong impact regardless of the actual number," Woolfolk added.
"Compared with median forecasts the headline number was very strong but some had expected an even bigger number," said Paul Bednarczyk at 4CAST.
The euro's initial dip lower also brought in fresh buyers, he added.
Elsewhere, the Australian and New Zealand dollars were bolstered by constructive comments from the governor of the Reserve Bank of Australia (RBA) after their recent falls.
RBA governor Ian MacFarlane was relatively optimistic on the outlook for Australia in terms of growth and inflation.
Separately, expectations that the Bank of England will hike interest rates next week kept the pound well bid.
The central bank last raised interest rates last month, its third quarter point hike since November.
The euro was changing hands at US$1.2258 from US$1.2225 late on Thursday in New York, ?136.39 (?135.47), ?0.6674 (?0.6639) and 1.5245 Swiss francs (Sf1.5281).
The dollar stood at ?111.25 (?110.80) and Sf1.2437 (Sf1.2497).
The pound was at US$1.8372 (1.8410), ?204.38 (?203.94) and Sf2.2843 (Sf2.2990).
On the London Bullion Market, the price of an ounce of gold stood at US$388.30 from US$390.35 late on Thursday.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last