Dollar drop to affect rate rise

INTEREST rates in the US may not be increased next week as expected after the dollar tumbled yesterday following the release of US non-farm payroll report for the month.

The report showed employers in July hired the fewest workers this year.

Within a minute of the Labour Department report showing the economy added 32,000 jobs last month, compared to an expected 240,000, the dollar lost almost two cents against the euro and more than a yen versus Japan’s currency.