TOKYO -- The dollar dropped against the yen and other rivals in early Asian trading Monday following last week's data showing U.S. unemployment rose in February. þþThe dollar bought 104.62 yen in Tokyo at 9 a.m. Monday, down 0.81 yen from late Friday. þþThe euro was trading at $1.3244, up from $1.3240. þþThe U.S. currency also retreated against other regional currencies in early trading. The Australian dollar bought $0.7906, up from $0.7897 early Monday. The New Zealand dollar was up at $0.7348 from $0.7333. þþWhile stronger-than-expected U.S. payroll data released Friday showed the U.S. economy added 262,000 jobs in February, that was not enough to offset an overall rise in unemployment. The U.S. Labor Department said Friday that the unemployment rate rose to 5.4 percent from 5.2 percent in January. þþConcerns about the massive U.S. trade and budget deficits have also remained a negative factor for the dollar. It declined rapidly toward the end of last year on such worries, although it has staged a moderate comeback in recent weeks. þþ
Source: Chicago Tribune
