USD Rises on Positive Employment Data

A better than expected decline in the unemployment rate in the United States and a higher than expected labor force participation rate are providing a much needed support for the US Dollar (USD) to maintain its recent rising trend on Friday.

The Dollar index (DXY), which measures the performance of the USD against a basket of six major currencies, is up by 0.44% for the day at 93.14, after closing Thursday at 92.74.

The USD is up by about 0.50% in front of the Euro and by 0.73% against the Sterling Pound, maintaining a rising trend across the board.