© Reuters. The euro rises to 1.06 dollars after the US labor market report
Frankfurt (Germany), Jan 6 (.).- The euro appreciated this Friday to over $1.06, after the publication of the US labor market report and disappointing figures for activity in the service sector.
The euro was trading around 4:00 p.m. GMT at $1.0602, compared with $1.0530 in the final hours of European currency market trading the previous day.
The European Central Bank (ECB) set the reference exchange rate for the euro at $1.0500.
The US economy created 223,000 new jobs in December, 40,000 fewer than in November.
The US Federal Reserve (Fed) is going to raise its interest rates further this year to curb inflation and cool a still very hot labor market.
Earlier the euro had depreciated after the release of euro area inflation figures.
Inflation in the euro area fell to 9.2% year-on-year in December (10.1% in November), but core inflation, which excludes energy and food, rose to 5.2%, more than expected.
The single currency was exchanged in a fluctuation band between 1.0485 and 1.0604 dollars.