Euro jumps to 1-month high against the dollar

AP News
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Posted: Aug 06, 2012 3:38 PM

NEW YORK (AP) — The euro rose to a one-month high against the dollar Monday following last week's stronger-than-expected U.S. jobs report.

The euro rose to $1.2399 in late trading Monday from $1.2377 late Friday. It went as high as $1.2442 earlier, its highest point against the dollar since July 5.

Riskier currencies such as the euro tend to rise when investors think economic conditions are getting better.

On Friday, The Labor Department said Friday that 163,000 jobs were added in July. Economists expected a rise of just 100,000 jobs. With no new economic data released Monday, the jobs report drove the euro higher.

In other trading Monday, the British pound fell to $1.5611 from $1.5645 late Friday.

The dollar fell to 78.22 Japanese yen from 78.59 yen, to 0.9692 Swiss franc from 0.9710 Swiss franc and to 99.92 Canadian cents from 99.96 Canadian cents.