US$ sinks to 7-month lows on jobs data

New York

THE dollar dropped to seven-month lows on Friday after data showed the US economy created fewer jobs than expected last month, which could derail a possible interest rate hike by the Federal Reserve in the second half of this year.

The greenback fell to seven-month troughs against the euro and Swiss franc, while sliding to a two-week bottom versus the yen. Data showed that US non-farm payrolls increased just 138,000 last month as the manufacturing, government and retail sectors lost jobs. The consensus forecast had been 185,000 new jobs.