March 9, 2012 / 2:13 PM / in 6 years

Dollar rallies broadly, up over 1 pct vs. euro

(Reuters) - The dollar rallied broadly on Friday as strong payrolls data highlighted a growing disparity with struggling economies in other regions of the world.

The euro hit a session low of $1.3131 and last traded at $1.3142, down 1 percent on the day, according to Reuters data.

The dollar hit a new 9-1/2 month high against the yen after data showed employment in February grew solidly for a third straight month, a sign the economic recovery was broadening and in less need of further monetary stimulus from the Federal Reserve.

The dollar hit a high of 82.36, its highest since last May, and last traded at 82.32, up 0.9 percent on the day, according to Reuters data.

“The dollar is doing well across the board and surprisingly well against some of the commodity-based currencies. What we’re seeing with the euro is a reflection of the euro zone’s monetary stance and economic outlook,” said Nick Bennenbroek, head of currency strategy at Wells Fargo, New York.

“We’re getting steady improvement in the U.S. while the European economic situation remains challenging.”

Reporting By Julie Haviv; Editing by Theodore d'Afflisio

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