Dollar Declines As Fed Tightening Prospects Recede After U.S. Jobs Data The U.S. dollar fell against its major counterparts in the European session on Friday, as an unexpected rise in the nation’s jobless rate for June reduced hopes for an early monetary policy tightening by the Federal Reserve. Data from the Labor Department showed that non-farm payroll employment spiked by 850,000 jobs in June after surging by an upwardly revised 583,000 jobs in May. Economists had expected employment to jump by about 700,000 jobs compared to the addition of 559,000 jobs originally reported for the previous month. Meanwhile, the unemployment rate unexpectedly inched up to 5.9 percent in June from 5.8 percent in May. The unexpectedly rate was expected to edge down to 5.7 percent.