Dollar slides as traders disappointed with US job data

0 Comments | AFP, March, 2005

NEW YORK (AFP) — The dollar slid as a report on US job creation, although stronger than most forecasts, showed no signs that would pressure the Federal Reserve to raise interest rates more aggressively.

The euro traded at 1.3236 dollars at 2200 GMT against 1.3108 late Thursday in New York.

The dollar was meanwhile trading at 104.61 yen after 105.26 on Thursday.

While official figures showed that the US economy created 262,000 jobs in February, beating expectations of 225,000, the performance was not seen as sufficiently robust to spark aggressive monetary policy action by the Fed.

As such, another quarter point hike in the key Fed funds rate to 2.75 percent is expected at the next rate-setting meeting on March 22.

"It was a decent report but...