Dollar falls after employment data sours recovery hopes

The dollar paused on Friday following its largest loss in ten days as disappointing U.S. employment data weighed on hopes for a speedy U.S. pandemic recovery.

The greenback continues its role as a safe haven, falling alongside U.S. stocks overnight as an unexpected increase in unemployment claims bruises the economic outlook. 

The dollar index traded at 90.561 in Asian trade following a 0.4% drop overnight after a two-day winning streak. 

The pound was flat at $1.3965 on Friday after a 0.8% gain in the last session, when it climbed as high as $1.3986, its strongest level since April 2018. 

The euro stood at $1.2093 after gaining 0.4% overnight. Against the yen, the dollar steadied after a two-day retreat. 

Elsewhere, Bitcoin traded at $51,335.71 after reaching a record $52,640 on Wednesday in a rally driven by Tesla Inc and others. It rose nearly 78% so far in 2021.