Data Diminished The Greenback's

Robust U.S. jobs data spurred investors to buy the U.S. dollar and sell yen on Friday with the rosier economic report curtailing some expectations the U.S. Federal Reserve will hold off raising interest rates until 2014. The strong jobs data diminished the greenback's safe haven status as investors took on more risk. The main beneficiary was the euro where initial losses on the report were erased by the end of trade despite the overhang of Europe's sovereign debt crisis. Data from the U.S. Labor Department showed 243,000 non-farm jobs were created in January, its fastest pace in nine months, pulling the unemployment rate to an unexpected three year low of 8.3 percent. Friday's data erodes the argument for more economic stimulus by the U.S. Federal Reserve and for some investors even ...

The EUR once again reached above $1.30 on Monday after better than expected economic data from the US, and an advance in global equities, boosted demand for riskier assets. Gold continues to decline as market concerns ease and people turn away from safe-haven assets. Economic News USD - Dollar Declines on Renewed Risk Appetite The US dollar declined against all of its major counterparts Monday following the release of better than expected US New Home Sales data. Combined with a boost in FedEx Corp.'s earnings, these two reports together have helped to raise demand for riskier assets. New US home purchases increased 24% from May to an annual pace of 330,000. The Dollar depreciated 0.7% to $1.008 per EUR during today's early Asian trading, from $1.2909 at the end of last week. The ...