NEW YORK (AP) - The dollar rose against other major currencies Monday after a strong jobs report tempered expectations for a cut in U.S. interest rates.
The 13-nation euro was quoted at $1.3360 in late New York trading, down from $1.3427 late Thursday, while the British pound dropped to $1.9610 from $1.9704.
The dollar bought 119.30 yen in Japan, up from 118.68 yen.
Because many markets were closed for Good Friday, traders got their first opportunity to react to Labor Department data from last week that showed stronger-than-expected job growth in March. The numbers boosted the dollar, indicating the economy might be in better shape than previously feared, and helped offset concerns about a continued slowdown in the housing market.
Coupled with corporate takeover activity on Monday, the positive data led some investors to believe the Federal Reserve will hold off on cutting rates.
Lower interest rates, which can be used to boost economic growth, can depress a currency by making some assets denominated in it less attractive to investors.
But traders were cautious ahead of a meeting later this week in Washington D.C. of finance officials from the Group of Seven industrialized economies. European officials may grumble about the yen's weakness, dealers said.
That skittishness will likely limit the dollar's gains for a while, analysts said.
Trading was generally quieter than usual Monday because of the absence of Sydney, Hong Kong and European players, closed for Easter Monday.
In other trading, the dollar bought 1.2264 Swiss francs, rising from 1.2152 late Thursday, and 1.1529 Canadian dollars, up from 1.1506.
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