Dollar Holds Gains Made on US Jobs Data

The dollar index measure against major peers was flat. It rose on Friday to a seven-week high, logging more than 2% gains for the week, its biggest in two years. Japan's yen fell to its lowest in nearly two months and other major currencies too were grappling with losses early on Monday as the dollar extended a rally sparked by Friday's strong US jobs data. The yen fell marginally to hit 149.10 per dollar, its weakest level since Aug. 16. The euro stood at $1.0970 , down 0.06%. Sterling was also flat around $1.3122, nursing last week's 1.9% drop. The New Zealand dollar was up 0.1% at $0.6166. The dollar's gains followed a US jobs report that showed the biggest jump in jobs in six months in September, a drop in the unemployment rate and solid wage rises, all pointing to the resilience of US economy. Source: Qatar News Agency