The dollar strengthened against the euro and erased its decline versus the yen Friday as investors digested the U.S. official payroll report.
Trading was erratic but little changed following the data release, but the dollar made a more decisive move higher against the euro as trade progressed. The euro hit an intraday low of USD1.3490 against the dollar.
While the data showed another month of job losses in the U.S. economy and the unemployment rate hit the highest since 1993, the size of the job cuts actually was less dire than some economists have forecast.
The payroll report showed 524,000 job cut in December, which is mostly in line with the median forecast of 525,000
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