Wednesday, May 2, 2007

Dollar Pares Gain Against Euro as Report Shows Slowing April Jobs Growth

(Bloomberg) -- The dollar pared gains against the euro and yen after a private report showed U.S. employers added the fewest jobs in almost four years in April.

The report comes two days before the Labor Department's payroll report, which is forecast to show job growth slowed last month. The dollar earlier advanced after the Institute for Supply Management said yesterday its manufacturing index rose to the highest level in almost a year, pushing traders to pare bets on an interest-rate cut by the Federal Reserve.


Read more at Bloomberg Currencies News

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