May 8, 2020 / 2:49 PM / a month ago

FOREX-Dollar gains after better-than-expected U.S. jobs report

    * U.S. job losses better than expected in April
    * Dollar on track for weekly gains vs euro, Swiss franc
    * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh

 (New throughout, updates prices, market activity, comments;
adds U.S. jobs report, FX table; new byline, changes dateline,
previous LONDON)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, May 8 (Reuters) - The U.S. dollar rose on Friday
after data showed the world's largest economy lost fewer jobs
than expected last month on fallout from the  coronavirus
pandemic.
    The greenback was on track to post its largest weekly gain
versus the euro in more than a month, although that was more
related to the European single currency concerning the European
Central Bank's asset purchases.
    The dollar was also on track for its best weekly performance
against the Swiss franc.
    Friday's data showed U.S. job losses in April hit 20.5
million, compared to expectations of 22 million. The
unemployment rate was 14.7%, lower than the market forecast of
16%.
    "This economic skid is so severe, does it really make much
of a difference between a 20.5 million jobs lost and 22
million?" said Marc Chandler, chief market strategist at
Bannockburn Global Forex in New York.
    "It doesn't really change anything. The market has rightly
shrugged it off," he added.
    In mid-morning trading, the dollar rose 0.3% against the yen
to 106.57 yen, while the euro was flat against the
dollar to $1.0827.
    The dollar index, as a result, was up 0.1% at 99.824.
    Risk appetite was broadly higher on the day, with U.S.
stocks and Treasury yields higher.
    "These (jobs) numbers happened quickly, it was a result of
government shutdowns, not because of a prolonged 12 years of
depression," said Quincy Krosby, chief market strategist at
Prudential Financial, in New Jersey.
    "To counter that, it is important to see the attempt to open
the economy and that is what the market is focused on, as
opposed to the dismal implications of these numbers," Krosby
added.
    
    ========================================================
    Currency bid prices at 10:26AM (1426 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.0836        $1.0832     +0.04%         -3.31%      +1.0854     +1.0816
 Dollar/Yen       JPY=        106.5500       106.2700    +0.26%         -2.12%      +106.7200   +106.2300
 Euro/Yen         EURJPY=     115.48         115.12      +0.31%         -5.31%      +115.6300   +115.0400
 Dollar/Swiss     CHF=        0.9711         0.9728      -0.17%         +0.33%      +0.9739     +0.9704
 Sterling/Dollar  GBP=        1.2437         1.2361      +0.61%         -6.21%      +1.2440     +1.2357
 Dollar/Canadian  CAD=        1.3938         1.3970      -0.23%         +7.32%      +1.3999     +1.3925
 Australian/Doll  AUD=        0.6528         0.6494      +0.52%         -7.02%      +0.6547     +0.6494
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.0525         1.0539      -0.13%         -2.99%      +1.0546     +1.0526
 Euro/Sterling    EURGBP=     0.8712         0.8761      -0.56%         +3.05%      +0.8769     +0.8714
 NZ               NZD=        0.6132         0.6083      +0.81%         -8.95%      +0.6142     +0.6087
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        10.2116        10.2358     -0.24%         +16.33%     +10.2599    +10.1927
 Euro/Norway      EURNOK=     11.0680        11.1040     -0.32%         +12.50%     +11.1105    +11.0503
 Dollar/Sweden    SEK=        9.7741         9.8080      -0.35%         +4.56%      +9.8208     +9.7568
 Euro/Sweden      EURSEK=     10.5940        10.6312     -0.35%         +1.19%      +10.6374    +10.5847
 
    
 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by
Medha Singh in Bengalaru; Editing by Chizu Nomiyama and David
Gregorio)
  
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