Euro falls as risk aversion rises after US jobs data

NEW YORK, June 3 Fri Jun 3, 2011 9:02am EDT

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NEW YORK, June 3 (Reuters) - The euro fell to session lows against the dollar on Friday as risk aversion increased following a weaker-than-expected U.S. jobs report for May.

The euro fell as low as $1.44501 EUR=EBS after trading at a one-month high earlier in the session at $1.45314. It was last at $1.44690, down 0.1 percent.

"This (jobs report)... has the potential to turn into a broader bout of risk aversion that could actually make the dollar stronger," Paresh Upadhyaya, head of G10 Fx strategy for the Americas, at bank of America-Merrill Lynch, in New York.

For the jobs data, click on [ID:nN02106333]. (Reporting by Gertrude Chavez-Dreyfuss and Steven C. Johnson; Editing by Padraic Cassidy)

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