The dollar is getting weaker against other major world currencies Friday afternoon, which could be affected by forecasts about the U.S. labor market, according to trading data.

The dollar is getting cheaper again – what’s going on? 

The euro is rising to $0.9793 against the dollar from the previous close of $0.9751, while the dollar-yen exchange rate is down to 147.74 yen from 148.27 yen. And the dollar index (the exchange rate against a basket of currencies from six U.S. trading partners) is down 0.43%, to 112.44 points.

Currency investors are waiting for U.S. labor market data on Friday. Analysts believe the unemployment rate in October rose to 3.6% from the September level of 3.5%. Non-farm payrolls are also expected to rise by 200,000 jobs in the country’s economy.

Among other things, in case the unemployment rate rises, it might prompt the US Federal Reserve to loosen its monetary policy a bit, which would have a negative impact on the national currency.

Earlier we reported that Gold is getting cheaper on the U.S. Federal Reserve’s interest rate hike.