Dollar elevates on positive job data

The dollar surged to its highest level against the euro in 2004 in the wake of Friday's better-than-expected jump in US employment.

Since the report's publication, the euro has sunk from $1.2230 on Friday to today's 2004 low of $1.2007. The 308,000 jump in US non-farm payrolls has fueled expectations that US interest rates will rise sooner rather than later.