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Dollar ticks up after drop on weak jobs data

09:50 AM | 7 May, 2015
Dollar ticks up after drop on weak jobs data
TOKYO (APP) - The dollar picked up Thursday after tumbling on weak US jobs data and a warning from Federal Reserve Chair Janet Yellen that stock markets were at risk of overheating.

In Tokyo midday trading, the greenback fetched 119.55 yen, up from 119.44 yen in New York.
The euro was mixed at $1.1342 and 135.60 yen, compared with $1.1348 and 135.54 yen in US trade, as traders keep a close eye on tense Greek bailout talks.

Fresh US data was relatively weak. Non-farm productivity fell 1.9 percent in the first quarter year-on-year. It was the second straight quarterly fall.

Payroll firm ADP meanwhile reported the US added just 169,000 private-sector jobs in April, the second month in a row under 200,000, as the oil sector downturn continued to pinch the labour market.

The figures came ahead of Friday's highly-anticipated Labor Department jobs report. A weak reading may further cloud the timing for a widely-expected Fed interest rate hike this year.

"Some hopes that the jobs market remained healthy were dashed by the private employment report and that hit those with long dollar positions," said Keisuke Hino, a foreign-exchange trader at Mizuho Bank in New York.

"At the same time, rising yields may boost appetite for the dollar for Japanese as they return from holidays," he told Bloomberg News.

Japanese financial markets were closed from Monday to Wednesday for public holidays.

In the US, Fed chair Janet Yellen, speaking at a Washington conference, warned that "equity market valuations at this point generally are quite high" "There are potential dangers there," she said, but added there was no rapid credit growth and "no signs of a financial bubble".

"I believe we are better positioned now" to see risks, Yellen added.

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.

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Currency Rates in Pakistan Today - Pakistani rupee to US Dollar, Euro, Pound, Dirham, and Riyal - 19 April 2024

Pakistani currency saw minor adjustment against global currencies on April 19, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.

Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.2 and Saudi Riyal's new rates was at 73.30.

Today’s currency exchange rates in Pakistan - 19 April 2024

Currency Symbol Buying Selling
US Dollar ‎USD 277.4 280.4
Euro EUR 293 296
UK Pound Sterling GBP 342.25 345.65
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.09 748.09
Canadian Dollar CAD 201 203
China Yuan CNY 38.44 38.84
Danish Krone DKK 39.69 40.09
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 902.64 911.64
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.31 25.61
Omani Riyal OMR 722.87 730.87
Qatari Riyal ‎QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.08 307.58
Thai Bhat THB 7.56 7.71

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