The dollar rose against major currencies yesterday after bleak U.S. jobs data renewed concerns about the economy and enhanced the greenback's safe-haven appeal. The Euro was down 1.1 percent at $1.4002, retreating from $1.4201 hit on Wednesday, its highest level since early June. Adding to pressure on the Euro were comments from the European Central Bank President Jean-Claude Trichet that Euro-zone activity would likely remain weak for the rest of the year. The dollar slipped 0.8 percent against Yen to 95.85, after trading as high as 96.89 yen before the jobs report. The Swiss franc hit the day's low of 1.5257 per euro from around 1.52 after a Swiss National Bank official said the central bank was prepared to continue interventions to stem the domestic currency's strength. Volume was light ahead of the three-day weekend for the Independence Day holiday in the United States. Overnight the dollar held gains made in the wake of bleaker than expected U.S. jobs numbers, hovering near its highest levels in a week against the Euro on Friday and pressuring commodity currencies such as the Australian dollar. U.S. Treasury bonds rose while stocks fell more than 2 percent after a government report showed U.S. employers cut 467,000 jobs in June, far more than expected, while the unemployment rate rose to 9.5 percent. The Euro also extended losses against the yen, dropping 0.4 percent to 133.82 yen, after falling nearly 2 percent on Thursday The dollar edged down against the yen to 95.82 yen although it remained well within a range of 93.50-100 which has limited it since mid-April. The Australian dollar was also trading around its lowest levels in a week, at $0.7925, now a long way off an eight-month high of $0.8265 set in early June. It fell more than 2 percent against the yen on Thursday and dipped to 75.78 Yen on Friday, also its lowest level in a week. We’re also testing important support levels on stocks with S&P trend line support coming in at 888 (which is also the 200 DMA). A break would lead lower for 859. Same configuration for the DAX, where trend line support comes in at 4669, below 4579 is the next level. Financial markets will be closed on Friday and will reopen on Monday. 
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