U.S. unemployment data pummels euro

Euro was hammered today after hitting a four-month high earlier in the session as the dollar regained its strength following strong unemployment data. 

EUR/USD last traded at 1.1128, down from the opening level of 1.1199, with an intraday low at 1.1114, and a high at 1.1246, the highest in four months. 

Euro weakened as the dollar pushed back against its rivals after data showed the unemployment rate at an eight-year low, despite a slowdown in new jobs in January. 

Confidence in the U.S. economy is shining again, with a chance that the central bank could stick to its monetary tightening policy after all this year and raise interest rates gradually. 

On the other hand, euro already suffers from expectations of more easing after comments made by the European Central Bank president Mario Draghi and other members who asserted at different occasions the bank's readiness to utilize more monetary tools, and that the bank will review its policy at its next meeting in March. 

Expectations of more stimuli in the Eurozone keeps the euro subdued, but the common currency got a boost this weak from a sharp decline in the dollar's value, driving euro's bulls to ignore the easing expectations temporarily.