Dollar drops against peers, euro gains after U.S. jobs data

By Chibuike Oguh

NEW YORK (Reuters) -The U.S. dollar extended losses against major currencies, including the yen, Swiss franc, and euro, on Wednesday after economic data showed weakening labor demand, strengthening market hopes for an upcoming Federal Reserve interest rate cut.

U.S. Labor Department data showed on Wednesday that job openings, a measure of labor market demand, fell more than expected to 7.181 million in July. Economists polled by Reuters had expected 7.378 million.

The dollar erased earlier gains against the yen and Swiss franc following the data. It weakened 0.15% to 148.11 against the Japanese yen and dropped 0.16% to 0.803 against the Swiss franc.

The euro added to its gains against the dollar. It was last up0.34% at $1.1677.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.34% to 98.06.

(Reporting by Chibuike Oguh in New YorkEditing by Nick Zieminski)

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