The U.S. currency got an unexpected slap today after fewer-than-forecasted jobs were added to the nonfarm payrolls according the most-anticipated report of the month.
Nonfarm payrolls in the U.S. increased 120 thousand in March - an employment figure that is too below the market consensus of 205 thousand - after rising 240K (revised from 227K).
Even as the jobless rate unexpectedly fell to 8.2 percent from 8.3 percent last month, risk sentiments were strongly offset by the weak NFP employment figure in this spiritless day.
Thus, demand is reduced on the U.S. currency as weaker employment gains in the past month fueled back bets the Federal Reserve will have to stimulate the economy any time soon.
The dollar fell sharply against major currencies after the report and USD index now trades around 79.80 after hitting a fresh morning low of 79.73.
The 17-nation common currency rose accordingly to trade around $1.3096 after posting a daily high of $1.3112. The EUR/USD pair started the day at $1.3064.
The pound strengthened as well to trade around $1.5876 after scoring a high of $1.5889 in the morning. The GBP/USD pair started the day at $1.5827.
Finally, the greenback weakened against its Japanese counterpart, trading around 80.53 yen after printing a fresh low of 81.29 yen. The USD/JPY pair started the day at 82.36 yen.
In a listless trade, commodities were little changed on good Friday. Gold spot prices steadied around $1630.11 a barrel, while oil futures for May 12 delivery was up slighly at $103.22 an ounce.