Dollar trades in tight ranges after US jobs data

AP News
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Posted: Apr 19, 2012 3:37 PM
Dollar trades in tight ranges after US jobs data

The dollar moved in tight ranges against other currencies Thursday after disappointing U.S. jobs data and a well-received Spanish bond auction

The euro fell slightly to $1.3130 in late trading from $1.3133 late Wednesday. The British pound rose to $1.6055 from $1.6034.

Spain auctioned off $3.3 billion in two- and 10-year bonds, more than expected. Traders have been concerned that Spain won't be able to implement drastic budget cuts and avoid a bailout. The successful auction is helping ease those fears.

In the U.S., hiring appears to be slowing after the government released a report on the number of people applying for unemployment benefits. The Labor Department said weekly applications fell by 2,000 to 386,000. But that was only after the department revised up the previous week's data to show 8,000 more people applied for benefits than first estimated.

In other trading, the dollar rose to 81.46 Japanese yen from 81.24 yen, to 0.9156 Swiss franc from 0.9154 Swiss franc and to 99.57 Canadian cents from 99.04 Canadian cents.