Dollar falls against euro on US jobs data

AP News
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Posted: Dec 15, 2011 3:41 PM
Dollar falls against euro on US jobs data

The dollar fell against the euro and most other major currencies Thursday after stronger U.S. jobs data made traders more willing to buy riskier currencies.

The Labor Department said the number of people applying for unemployment benefits fell last week to 366,000, the fewest since May 2008. That's a sign that layoffs are decreasing.

The euro rose to $1.3011 in late trading from $1.2977 Wednesday.

Riskier currencies, such as the euro, tend to rise when traders are less nervous about the state of the economy.

The euro is still down about 3.2 percent so far this month on fears that European leaders won't be able to solve the region's debt crisis. Those fears pushed the euro to an 11-month low of $1.2943 Wednesday.

In other trading, the British pound rose to $1.5501 from $1.5466 late Wednesday.

The dollar fell to 77.91 Japanese yen from 78.07 Japanese yen, to 0.9405 Swiss franc from 0.9533 Swiss franc and to 1.0358 Canadian dollar from 1.0402 Canadian dollar.