Euro rises to 6-week high against US dollar

The euro rose Friday to its highest level against the dollar since late May after a report showed U.S. employers cut jobs last month, intensifying worries about the U.S. economy.

The jobs report showed the economy lost 125,000 jobs in June, the first decline in six months. Most of the job losses came from the federal government laying off temporary census workers, and the private sector did add jobs. But the overall drop in jobs fit in with other recent data suggesting a slowdown in the recovery from the recession in the second half of 2010.

"The number itself does cast further doubt about the U.S. recovery," said Brian Dolan, chief currency strategist at Forex.com. He noted, however, that trading on days before and after holiday weekends is typically very thin, exacerbating moves in markets. U.S. markets will be closed Monday for Independence Day.

For more: The Associated Press: Euro rises to 6-week high against US dollar