The Dollar rose against a basket of currencies on Friday after an unexpectedly small drop in US non-farm payrolls left investors hoping any US recession would prove a shallow one.
Labor Department data showed US employers cut 20k jobs in April, marking the fourth straight month of contraction in employment. Analysts have been looking for payrolls to decline by 80k after an upwardly revised loss of 81k jobs in March. The unemployment rate also eased to 5 from 5.1% in March.
Latest data supported views that the Federal Reserve would refrain from cutting interest rates again, provided financial markets did not deteriorate further.
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