Dollar rises on jobs growth
Dollar Sails Higher on Surprising April Jobs Growth
NEW YORK (Dow Jones) -- The dollar registered strong gains after traders were confounded by news the U.S. economy generated far more jobs than expected in April.
In late-afternoon trading, the euro was down 0.9% to $1.2835, while the dollar rose 0.2% to 104.84 yen.
A gain of 274,000 new jobs last month exceeded an average estimate of 194,000 jobs generated by economists polled by Dow Jones. Other surveys were looking for about 175,000 jobs, although so-called whisper estimates that circulated on trading floors late Thursday put the growth closer to 100,000.
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