* U.S. job losses better than expected in April
* Dollar on track for weekly gains vs euro, Swiss franc
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
(New throughout, updates prices, market activity, comments;
adds U.S. jobs report, FX table; new byline, changes dateline,
previous LONDON)
By Gertrude Chavez-Dreyfuss
NEW YORK, May 8 (Reuters) - The U.S. dollar rose on Friday
after data showed the world's largest economy lost fewer jobs
than expected last month on fallout from the coronavirus
pandemic.
The greenback was on track to post its largest weekly gain
versus the euro in more than a month, although that was more
related to the European single currency concerning the European
Central Bank's asset purchases.
The dollar was also on track for its best weekly performance
against the Swiss franc.
Friday's data showed U.S. job losses in April hit 20.5
million, compared to expectations of 22 million. The
unemployment rate was 14.7%, lower than the market forecast of
16%. "This economic skid is so severe, does it really make much
of a difference between a 20.5 million jobs lost and 22
million?" said Marc Chandler, chief market strategist at
Bannockburn Global Forex in New York.
"It doesn't really change anything. The market has rightly
shrugged it off," he added.
In mid-morning trading, the dollar rose 0.3% against the yen
to 106.57 yen JPY=EBS , while the euro was flat against the
dollar to $1.0827 EUR=EBS .
The dollar index, as a result, was up 0.1% at 99.824 =USD .
Risk appetite was broadly higher on the day, with U.S.
stocks and Treasury yields higher.
"These (jobs) numbers happened quickly, it was a result of
government shutdowns, not because of a prolonged 12 years of
depression," said Quincy Krosby, chief market strategist at
Prudential Financial, in New Jersey.
"To counter that, it is important to see the attempt to open
the economy and that is what the market is focused on, as
opposed to the dismal implications of these numbers," Krosby
added.
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Currency bid prices at 10:26AM (1426 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR= $1.0836 $1.0832 +0.04% -3.31% +1.0854 +1.0816
Dollar/Yen JPY= 106.5500 106.2700 +0.26% -2.12% +106.7200 +106.2300
Euro/Yen EURJPY= 115.48 115.12 +0.31% -5.31% +115.6300 +115.0400
Dollar/Swiss CHF= 0.9711 0.9728 -0.17% +0.33% +0.9739 +0.9704
Sterling/Dollar GBP= 1.2437 1.2361 +0.61% -6.21% +1.2440 +1.2357
Dollar/Canadian CAD= 1.3938 1.3970 -0.23% +7.32% +1.3999 +1.3925
Australian/Doll AUD= 0.6528 0.6494 +0.52% -7.02% +0.6547 +0.6494
ar
Euro/Swiss EURCHF= 1.0525 1.0539 -0.13% -2.99% +1.0546 +1.0526
Euro/Sterling EURGBP= 0.8712 0.8761 -0.56% +3.05% +0.8769 +0.8714
NZ NZD= 0.6132 0.6083 +0.81% -8.95% +0.6142 +0.6087
Dollar/Dollar
Dollar/Norway NOK= 10.2116 10.2358 -0.24% +16.33% +10.2599 +10.1927
Euro/Norway EURNOK= 11.0680 11.1040 -0.32% +12.50% +11.1105 +11.0503
Dollar/Sweden SEK= 9.7741 9.8080 -0.35% +4.56% +9.8208 +9.7568
Euro/Sweden EURSEK= 10.5940 10.6312 -0.35% +1.19% +10.6374 +10.5847
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Australian dollar https://tmsnrt.rs/3biO1Gq
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