3 June 2005, 17:53   The dollar remained lower against the euro and yen early Friday

The dollar remained lower against the euro and yen early Friday, after the case for an aggressive program of rate hikes was sharply dented by news of weak jobs growth in May. The euro recently traded up 0.2% at $1.2292, after rising as high as $1.2341 immediately after the unemployment report's release. The dollar was down 0.6% at 107.54 yen. Nonfarm payrolls increased last month by 78,000, the lowest rise since August 2003, according to a survey of business establishments, the Labor Department said. Economists were expecting much stronger job growth in May, forecasting an average gain of 186,000, according to the survey conducted by Dow Jones.

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