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Currencies: Dollar suffers firm slump as jobs report comes in better than expected

A popular U.S. dollar gauge moved sharply lower in afternoon trade on Friday, surrendering early gains after an employment report for the month of April that topped economists’ expectations.

The Labor Department said the economy added 263,000 jobs, while the unemployment rate fell to a 49-year low at 3.6%. Economists polled by MarketWatch were expecting 213,000 new jobs and for the unemployment rate to hit 3.7%.

The ICE Dollar Index, DXY, -0.35% a measure of the greenback’s value versus six other currencies, was trading at 97.546, down 0.3%. The index fell 0.6% from its intraday peak above 98.10.

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