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USD Lower After Strong Jobs Report

The dollar fell on Friday after data showed the U.S. economy created more jobs than expected in June, but a closely-watched inflation gauge — wage growth — rose less than forecast, while the unemployment rate increased.

Nonfarm payrolls advanced by 213,000 jobs last month, the Labor Department said. Data for April and May was revised to show 37,000 more jobs created than previously reported.

The unemployment rate, however, rose to 4.0 percent from an 18-year low of 3.8 percent in June, while the average hourly earnings rose five cents, or 0.2 percent in June after increasing 0.3 percent in May.

via Reuters