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By Bloomberg

The dollar fell after a report showed the U.S. added fewer jobs than forecast for a second consecutive month, adding to speculation a weakening economy will prompt the Federal Reserve to keep interest rates low for longer.

The U.S. currency fell against most of its major peers after the Labor Department said companies filled 223,000 positions in April and the gains for March were revised lower. After a nine-month rally, the greenback has slumped since the middle of April amid concern growth is slowing and as Europe exhibited signs of recovery, lessening the appeal of dollar- denominated assets.

“Just like last month, traders may experience ‘sticker shock’ if we see the nonfarm payroll print below the key 200,000 level for the second consecutive month,” Matt Weller, an analyst at Gain Capital Holdings Inc.’s Forex.com unit in Grand Rapids, Michigan, said before the report.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, lost 0.3 percent to 1,162.03 as of 8:32 a.m. in New York.

The greenback slid 0.7 percent last month after data showed companies initially added 126,000 jobs in March, the fewest since December 2013. The figure was revised down to 85,000.

The U.S. central bank is weighing economic data to determine the timing of its first interest-rate hike since 2006. Bond yields “could see a sharp jump” when liftoff occurs, Fed chair Janet Yellen said May 6.

“The Fed’s focus in terms of the first rate hike is more nuanced now,” Eimear Daly, a currency strategist at Standard Chartered Plc, said by phone from London Thursday. “They don’t just want to see jobs growth, they also want to see wage gains and diminishing of the underutilization of the labor market.”