India, Aug. 1 -- The U.S. dollar weakened against its major counterparts in the New York session on Friday, as weaker-than-expected jobs data for July strengthened expectations of a Fed rate cut in September.
Nonfarm payrolls rose by 73,000 jobs in July, following an increase of 14,000 jobs in June. Economists had expected employment to rise by 110,000 jobs.
The unemployment rate edged up to 4.2 percent from 4.1 percent. The reading came in line with forecasts.
The ISM manufacturing PMI dropped to 48.0 in July from 49.0 in June. The reading came in below expectations of 49.5.
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