(WPT) Dollar Slides as Weak Jobs Report Bolsters Slowdown

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Dollar Slides as Weak Jobs Report Bolsters Slowdown Worry; Investors Wait for Greek Aid Deal
2011-06-01 14:28:30.505 GMT


Dollar Slides as Weak Jobs Report Bolsters Slowdown Worry;
Investors Wait for Greek Aid Deal

By Associated Press
June 1 (Washington Post) -- NEW YORK — The dollar is falling
against the euro and yen after a weak U.S. jobs report increased
worries about a slowdown in economic growth.
A private-sector U.S. jobs report shows businesses adding
far fewer jobs in May than economists had expected.
Analysts say hopes of a Greek aid deal coming soon that
would stave off default are also bolstering the euro. Credit
Suisse currency strategists are recommending that investors buy
euros again. The euro had fallen to a two-month low below $1.40
last week because of fears about a Greek debt default.
In morning trading Wednesday in New York, the euro rose to
$1.4413 from $1.4378 late Tuesday, while the dollar fell to 80.71
Japanese yen from 81.50 yen. The British pound slipped to $1.6393
from $1.6448, however.
Copyright 2011 The Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or
redistributed.

-0- Jun/01/2011 14:28 GMT