Reuters: US Dollar Report: FOREX-Dollar near 2-year lows vs euro on soft U.S. jobs data

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Want free Kindle ebooks? Sign up to receive the best freebie Kindle ebook deals in your email every day. From our sponsors

FOREX-Dollar near 2-year lows vs euro on soft U.S. jobs data Oct 22nd 2013, 13:06 Tweet Share this Email Print Reprints Tue Oct 22, 2013 9:06am EDT * U.S. economy adds 148,000 jobs, fewer than expected * Report delayed from early Oct due to U.S. govt shutdown * Strategist: Expectations may shift to more QE, not less By Gertrude Chavez-Dreyfuss NEW YORK, Oct 22 (Reuters) - The dollar fell to its lowest in nearly two years against the euro on Tuesday after data showed the U.S. economy added just 148,000 jobs last month, cementing expectations that the Federal Reserve is likely to keep its stimulus plan for the rest of the year. Economists were expecting jobs gains of 180,000 and the report covered the period before the government shutdown earlier this month. With the two-week shutdown already expected to have damaged the U.S. economy, the conviction that the Fed will not reduce its asset buying anytime soon became even more entrenched. "Is the Fed getting tired of being right? Today's underperforming jobs number fully justifies September's cautious FOMC," said Joseph Trevisani, chief market strategist at WorldWideMarkets in Woodcliff Lake, New Jersey. "Full-bore quantitative easing will probably be with us through the first quarter and speculation for an increase (in QE) may be no further than another weak payroll." The unemployment rate did dip to 7.2 percent last month, the lowest level since November 2008, but that has become irrelevant in the wake of the U.S. government's closure. Economists estimate the 16-day government shutdown shaved as much as 0.6 percentage point off annualized fourth-quarter gross domestic product, through reduced government output and damage to both consumer and business confidence. In early New York trading, the euro hit a high of $1.3748 against the dollar, its strongest level since Nov. 14, 2011. It was last at $1.3726, up 0.3 percent. Against the yen, the dollar fell as low as 97.86. It last traded at 98.16 yen, flat on the day. Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions