Dollar falls with the US jobs report in focus

The US dollar fell against most major currencies on Friday, amid anticipation of the US monthly jobs report.

Analysts forecast that the US economy has added nearly 1 million jobs (990,000 new jobs) during April, but the unemployment rate rose to 7.8% from 7.5%.

The US Department of Labor showed that the unemployment claims fell to 498,000 last week, dropping below 500,000 for the first time since the pandemic started, beating forecasts of 540,000.

This indicates that the US economy is continuously recovering from the pandemic impact, especially after the US success in containing the outbreak by distributing tens of millions of vaccines.

The dollar index fell against a basket of currencies by 0.2% 90.8 points as of 10:32 GMT, after it hit a high of 90.9 points and a low of 90.7 points.