The Australian dollar and New Zealand dollar both weakened against the dollar

The US dollar fell vs. other major currencies after data showing steep US job losses in the last three months, adding to fears about the outlook of the economy. October non-farm payrolls fell 240,000, higher than expected 200,000.
In the three months through October 650,000 non-farm payrolls have been cut.
This makes it 1.2 million jobs that have been cut so far this year moving the jobless rate up to 6.3% from 6.1% in September.

The euro rose against the dollar from its lows yesterday after data showing steep US jobs losses. Keeping the euro gains in check was data showing German industrial production posted its biggest drop in nearly 14 years in September.
The production fell a larger-than-expected 3.6%, fanning fears of further weakening in the Euro-zone economy. The Ifo’s monthly poll of corporate Germany in October also showed that a gauge of business expectations had fallen to its lowest level since the country reunification.

The British pound strengthened against the dollar mainly from bleak US jobs data. British Prime Minister Gordon Brown said that global interest rate cuts should be backed up with fiscal stimulus boost to the economy.

The Japanese yen strengthened against most other major currencies as risk-averse investors came back to the currency. Worries about the global economy continue to support the yen as investors unwind their carry trades.

The Canadian dollar weakened against the dollar with lower crude oil prices.
Crude oil prices dipped below $60 a barrel briefly, hurting the loonie as Canada is a major exporter of crude oil.

The Australian dollar and New Zealand dollar both weakened against the dollar as risk aversion kept investors out of the high-yielding currencies. Data continue to show that the global economy is weakening, pushing investors into safe-haven currencies. The Aussie is also being hurt by lower commodity prices as it is a exporter of many commodities.

The Mexican peso continued to weaken against the dollar with the bleak US jobs data. Mexico exports over 80% of its goods to the US.