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The US dollar strengthened vs. most major currencies as the Labor Department reported that the unemployment rate hit a 26 year high, increasing investor risk aversion. The government report showed that the unemployment rate rose to 10.2% last month, higher than forecast of 9.9%. Employers had cut 190,000 jobs in October after a revised reduction of 219,000 jobs the previous month. The dollar reversed losses from yesterday when the Federal Reserve announced that it would keep interest rates "exceptionally low" for "an extended period."
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