Dollar rises after US unemployment rate falls (AP)

NEW YORK ? The dollar rose against the euro Friday after the U.S. government reported a sharp drop in the unemployment rate last month.

The Labor Department said that the unemployment rate fell to 8.6 percent in November, the lowest since March 2009. Analysts had expected the rate to stay at 9 percent.

In November, the country added 120,000 jobs, a sign that the economy is slowly recovering. The government also said that job growth was higher in September and October than first estimated.

The euro fell to $1.3387 in afternoon trading Friday from $1.3460 late Thursday.

The dollar was higher against most other currencies. The British pound fell to $1.5592 from $1.5689. The dollar rose to 77.92 Japanese yen from 77.76, to 0.9213 Swiss franc from 0.9164 and to 1.0192 Canadian dollar from 1.0150 Canadian dollar.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20111202/ap_on_bi_ge/us_dollar

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