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Currencies: Dollar weakens after May jobs data disappoints

The U.S. dollar fell against its major rivals on Friday, reversing earlier strength after a much smaller-than-expected rise in May nonfarm payrolls raised concerns about economic growth and the pace of the Federal Reserve’s plans to normalize interest rates.

The ICE U.S. dollar index DXY, -0.47% which looks at the buck against a half-dozen other currencies, fell 0.5% to 96.69, falling to levels last seen in November. The WSJ Dollar index BUXX, -0.45% which measures the buck against a wider basket of rivals, lost 0.5% to 88.35.

The U.S. added a modest 138,000 new jobs in May, well below the 185,000 that had been anticipated.

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