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1st LD Writethru: U.S. dollar declines on profit-taking

Xinhua, March 10, 2015 Adjust font size:

The U.S. dollar went down against most major currencies on Monday as investors took profits from gains on the country's strong nonfarm payrolls released Friday.

The better-than-expected jobs report spurred market speculation that the Federal Reserve may raise interest rates earlier than anticipated given the sound recovery of U.S. labor market.

The dollar index, which measures the greenback against six major currencies, came off on Monday from an eleven-year high of 97.595 reached in previous last session. In the late trading, the index was down 0.04 percent at 97.578 after some profit-taking by investors.

Meanwhile, the euro remained at the lowest level in nearly 12 years against the U.S. dollar as the European Central Bank kicked off its 1.1 trillion euro quantitative easing program on Monday.

In late New York trading, the euro was flat at 1.0858 dollars as in the previous session, and the British pound rose to 1.5131 dollars from 1.5048 dollars. The Australian dollar dropped to 0. 7713 dollars from 0.7720 dollars.

The U.S. dollar bought 121.18 Japanese yen, higher than 120.69 yen of the previous session. The U.S. dollar edged up to 0.9849 Swiss francs from 0.9848 Swiss francs, and it slipped to 1.2591 Canadian dollars from 1.2611 Canadian dollars. Endite