NEW YORK, March 8 (Reuters) - The euro fell against the dollar on Friday after a report showed U.S. employers stepped up hiring in February, pushing the unemployment rate to a four year-low and suggesting the economy has enough momentum to withstand the blow from higher taxes and deep government spending cuts. .
"Progress in the labor market is unmistakable," said Joseph Trevisani, chief market strategist at WorldWideMarkets, Woodcliff Lake in New Jersey. "The equity rally will be aided by the improving labor economy and the dollar should find firm support in the good jobs numbers."
The euro was last down 0.6 percent at $1.3031. The dollar also gained against the yen, climbing as high as 96.54, a fresh 3-1/2-year high. It was last at 96.35 yen, up 1.7 percent .