Strong Job Report Gives Dollar Boost

Sat., Feb. 7, 1998

Associated Press

The dollar rose against other major currencies Friday, spurred by a positive U.S. employment report showing growth in the construction and real estate sectors.

The dollar also was bolstered by the U.S. Treasury and stock markets, which also found the report positive. Meanwhile in Japan, the government issued the gloomiest assessment of its economy in two decades.

Other dollar-positive factors, analysts said, included President Clinton’s meeting with British Prime Minister Tony Blair, an indication that the nation is not going adrift during the ongoing White House sex scandal, and the United States continuing its military buildup for a possible strike against Iraq.

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