The dollar fell this afternoon after job creation in the United States weakened considerably in June and ahead of a holiday weekend that has prompted nervous investors to ditch speculative positions.
The US Labor Department's monthly non-farm payrolls report showed that just 112,000 jobs were created outside the agricultural sector - less than half the 250,000 expected by most economists.
But other concerns were also on the minds of investors, not least a renewed climb in oil prices, and fears of the possibility of terror attacks over the Independence Day holiday weekend in the United States.
Following the 14.30 p.m. data release, the euro rise more than a cent higher against the dollar, to $1.2289, before steadying off at $1.2265 - still more than a cent above close of trade in New York last night. At 3.30 p.m. the dollar was at $1.2294.
Agencies