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Dollar Retreats After Jobs Figures

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12/07/2018 | 11:27am EST

By Gunjan Banerji

The U.S. dollar edged lower after fresh jobs figures showed that employers slowed their pace of hiring last month, reversing the currency's gains from earlier in the session.

The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently down less than 0.1% to 90.20.

New figures released Friday morning showed that U.S. nonfarm payrolls increased a seasonally adjusted 155,000 in November, less than the 198,000 new jobs economists surveyed by The Wall Street Journal had expected.

Meanwhile, the Journal reported Thursday that Federal Reserve officials are contemplating whether to signal a wait-and-see approach on policy. Lower interest rates can make U.S. government bonds less attractive to yield-seeking investors around the world, tapering demand for the dollar.

"The [jobs] report should keep the Fed on track for a December rate hike, although the debate about the pace of Fed tightening should continue," wrote Nick Bennenbroek, head of currency strategy at Wells Fargo Securities, in a note Friday.

Write to Gunjan Banerji at Gunjan.Banerji@wsj.com

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