Dollar falls after unimpressive U.S. labour data as yuan surges.
The dollar lost ground against the yen and euro on Thursday after U.S. unemployment data failed to reverse a downtrend that followed some of the biggest gains on record for China’s yuan.
A rise in overnight borrowing costs in Hong Kong and growth in China’s services sector to a 17-month high last month helped put the yuan on pace for the biggest two-day rise for the offshore version of its currency since its inception in 2010.