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Dollar extends gains vs yen, euro after jobs data

Published 12/04/2009, 09:11 AM
Updated 12/04/2009, 09:15 AM

NEW YORK, Dec 4 (Reuters) - The dollar extended gains on Friday, hitting a three-week high against the yen, after data showed the U.S. economy lost a much fewer-then-expected 11,000 jobs last month and traders bet U.S. interest rates may rise sooner rather than later.

Economists had expected 130,000 job cuts, and the surprise numbers provided the dollar with a rare boost. It was last at 89.72 yen , its highest level since Nov. 13 and on track for its best daily gain since August.

The euro fell 1 percent to a $1.4913 session low, well off Friday's peak of $1.5091 touched in overnight trade. It was last changing hands at $1.4931 .

((steven.c.johnson@thomsonreuters.com; Tel: +1-646-223-6346; Reuters Messaging: steven.c.johnson.reuters.com@reuters.net))

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