On Friday as investors waited for the U.S. government’s monthly employment report to offer clues to the potential pace of tightening in U.S. monetary policy so,  the dollar was slow versus a basket of major currencies.

November rates Unemployment rates remains unchanged

In November the U.S. economy lost 130,000 jobs, as compared to 190,000 in October, while the November unemployment rate was unchanged at 10.2%. [source : Reuters economist poll]

Rates are anticipated to rise

However traders were uncertain after it has been said by White House spokesman Robert Gibbs on Thursday that it has been signaled by Wednesday’s ADP private sector payroll report that the November unemployment level may tick up.

Canadian Dollar jumped Higher

Meanwhile, after that Canadian jobs figures for November came in far stronger than expected, the Canadian dollar, jumped to a session high.

Earlier on Friday it has been announced by China that it would look to diversify its huge foreign exchange reserves across currencies and high quality assets, but still the dollar would remain the anchor currency.

Dollar was flat against currency basket .DXY

At 1220 GMT, the dollar was at 74.622, flat versus a currency basket .DXY, and the euro was slow at $1.5071 EUR=.

Dollar versus Yen

Against the yen the dollar was up 0.2% at 88.37 yen. After the Bank of Japan on Tuesday announced extra liquidity-boosting steps to fight deflation, it has recovered from a 14-year low of 84.82 yen hit last week on trading platform EBS.

Canadian dollar rose to a session high

The Canadian dollar has shown a rise to a session high of C$1.0470 per U.S. dollar CAD=. It has raised up more than half a percent on the day and it has raised up from around C$1.0530 before the Canadian data were released.

Drop in Unemployment Rate

The unemployment rate dipped from 8.6% to 8.5%. A rise to 8.7% had been expected  by analysts.

[Source: Reuters]

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