2016.07.0809:18:00UTC+00U.S. Dollar Spikes Up After Upbeat Jobs Data

The U.S. dollar gained ground against the other major currencies in European trading on Friday, as the economy created more jobs than forecast in June, renewing prospectus for an interest rate hike this year.

The Labor Department report said non-farm payroll employment surged up by 287,000 jobs in June versus economist estimates for an increase of about 180,000 jobs.

However, the Labor Department also said the uptick in jobs in May was downwardly revised to just 11,000 from the 38,000 originally reported.

The unemployment rate also rose to 4.9 percent in June from 4.7 percent in May, while economists had expected the rate to edge up to 4.8 percent.

The data painted a positive picture about labor, while renewing speculation for an interest rate hike in coming months.

Most analysts expect Britain's vote to leave the European Union to keep the Fed on hold later this month, although the following meeting in September could be a possible target.

The greenback was lower against its major rivals in Asian deals.

The greenback spiked up to 0.9855 against the franc, its strongest since June 3. If the greenback-franc pair extends rise, it may locate resistance around the 0.995 zone.

Data from the State Secretariat for Economic Affairs showed that Switzerland's unemployment rate decreased in June.

The seasonally adjusted jobless rate dropped to 3.3 percent in June from 3.5 percent in May. Meanwhile, economists had expected the rate to remain stable at 3.5 percent.

Reversing from an early low of 1.1090 against the euro, the greenback climbed to an 11-day high of 1.1003. Continuation of the greenback's uptrend may lead it to a resistance around the 1.09 mark.

Data from Destatis showed that Germany's exports declined unexpectedly in May and imports logged a weak growth.

Exports fell by seasonally adjusted 1.8 percent month-on-month in May, confounding expectations for a 0.4 percent rise. In April, shipments gained 0.1 percent.

The greenback edged up to 101.27 against the Japanese yen, following a 2-day low of 100.23 hit at 8:15 am ET. The next possible resistance for the greenback-yen pair may be found around the 103.00 level.

Data from the Ministry of Finance showed that Japan had a current account surplus of 1.809 trillion yen in May.

That exceeded expectations for a surplus of 1.751 trillion yen, although it was down from 1.878 trillion yen in April.

The greenback advanced to a 10-day high of 1.3080 against the loonie, compared to 1.3002 hit late New York Thursday. On the upside, the greenback may target resistance around the 1.32 region.

The greenback bounced off to 1.2908 against the pound, from a low of 1.2998 hit at 8:00 am ET.

Data from the Office for National Statistics showed that the U.K. visible trade deficit widened in May on weak exports.

The deficit on trade in goods increased to GBP 9.9 billion from GBP 9.4 billion in April. The expected level of shortfall was GBP 10.7 billion.