Xinhua, New York :
The US dollar declined against most major currencies Friday as US nonfarm payroll report for July failed to meet market expectations, driving speculations that the Federal Reserve may keep the ultra low interest rates for longer.
Some 209,000 new jobs were added to the US economy in July following an upwardly revised 298,000 gain the prior month, the Labor Department said Friday. Meanwhile, unemployment rate was little changed at 6.2 percent in July from 6.1 percent in June.
The greenback was pressured as the sluggish job data may leave more space for the Fed to keep the interest rates low to boost the economy. The U.S. central bank on Wednesday reduced the bond- buying program by another 10 billion dollars, staying on the course of ending the purchases in October.
The dollar posted the largest monthly gain in July, lifted by the report which showed U.S. economic growth unexpectedly reached 4 percent in the second quarter, reversing a contraction in the previous quarter.
