Dollar Maintains Weekly Gains on Strong Jobs Report

The U.S. Dollar (USD) surged on Friday, supported by the positive economic data that showed a surge in new jobs created within the U.S. economy during July and a decline in the unemployment rate that exceeded market expectations.

The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies added 0.58% on Friday to settle at 92.78.

The index moved throughout the last session of the week in a range between 92.26 and 92.84.

For the week, the DXY gained about 0.68%.

The USD advanced by 0.88% this week against the Euro (EUR), with the EUR/USD pair reaching 1.1764, or its lowest since early April.

The GBP/USD pair also lost 0.20% this week to settle near 1.3873, extending the greenback’s gains.

Against the Japanese Yen (JPY), the Dollar surged by 0.50% this week with the USD/JPY pair reaching 110.23 by the end of the week.