Dollar drops on Fed stimulus concerns

New York, Sep 10 (IANS) The US dollar fell against major currencies and is being continuously pressured by the sluggish US non-farm sector.

This is being attributed to speculations that the Federal Reserve might keep its monetary stimulus policy after job data was released Friday, reports Xinhua.

US employers added 169,000 jobs in August, according to the job data released by the Labour Department, which is fewer than market expectations of an increase of 180,000 jobs.

The unemployment rate dropped to 7.3 percent, the lowest level since December 2008. Consequently, the labour force participation rate fell to 63.2 percent, the lowest since August 1978.

The market focus has been on the Federal Reserve's upcoming policy meeting scheduled for Sep 17-18. Meanwhile, the Australian dollar rallied as China, its largest trading partner, posted better-than-expected trading report.

China's exports rose 7.2 percent year-on-year to $190.61 billion in August, up 2.1 percentage points from the growth in July while its imports expanded 7 percent, according to Chinese customs figures released Sunday.

Also, in New York trading, the euro rose to $1.3259 from $1.3181 of the previous session, and the British pound increased to $1.5701 from $1.5634. The Australian dollar climbed to $0.9320 from $0.9190.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.

Matches

    • Team flag for Sri Lanka vs. Team flag for PakistanPAKSL
      5th ODI
      Sun, Jul 26, 2015
      Hambantota, Sri Lanka
      Pakistan in Sri Lanka ODI ...
      SL won by 165 runs
    • Team flag for Netherlands vs. Team flag for ScotlandSCONED
      Final
      Match abandoned
      Sun, Jul 26, 2015
      Malahide, Dublin, Ireland
      World Twenty20 Qualifier, ...
    • Team flag for Hong Kong vs. Team flag for IrelandIREHK
      3rd Place Play-off
      Match abandoned
      Sun, Jul 26, 2015
      Malahide, Dublin, Ireland
      World Twenty20 Qualifier, ...
  • No live matches are in progress.
    • Team flag for England vs. Team flag for AustraliaAUSENG
      3rd Test
      Wed, Jul 29, 2015
      Birmingham, England
      The Ashes, 2015...
      Upcoming match
    • Team flag for Bangladesh vs. Team flag for South AfricaSABAN
      2nd Test
      Thu, Jul 30, 2015
      Mirpur, Bangladesh
      South Africa in Bangladesh...
      Upcoming match
    • Team flag for Sri Lanka vs. Team flag for PakistanPAKSL
      1st T20I
      Thu, Jul 30, 2015
      Thu, Jul 30, 2015
      Colombo, Sri Lanka
      Pakistan in Sri Lanka T20 ...