US dollar tumbles to a more than two-month low

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The US dollar on Friday fell to its lowest in more than two months after US jobs data for last month came in well below expectations, putting a damper on hopes that a roaring economic recovery would lead to higher rates any time soon.

Nonfarm payrolls last month increased by only 266,000 jobs after rising by 770,000 in March, the US Department of Labor said in its closely watched employment report on Friday.

Economists polled by Reuters had forecast payrolls advancing by 978,000 jobs.

Photo: Reuters

The US dollar was down 0.34 percent at 90.561 against a basket of major currencies, having dropped as low as 90.338, its lowest since Feb. 26, following the data.

“The dollar is really getting spanked this morning,” said Boris Schlossberg,…

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