Dollar rises to 160.38 yen after U.S. jobs data
The dollar climbed to ¥160.28-160.38 in New York on Friday after stronger-than-expected U.S. nonfarm payrolls. The yen returned to levels seen before Japanese authorities began yen-buying interventions in late April.
Japan TimesThe dollar rose in New York trading on Friday after the release of U.S. nonfarm payrolls data for May showed a gain of 172,000 jobs, exceeding market forecasts. As of 5 p.m., the greenback traded at ¥160.28 to 160.38, up ¥0.31 from the previous day. The currency reached levels last seen before a series of yen-buying interventions by Japanese authorities that began in late April.
Market reaction The stronger jobs report prompted speculation that the U.S.
Federal Reserve might raise interest rates. Equity markets declined after the data release. The Dow Jones Industrial Average fell 695.15 points to 50,866.78. Nikkei 225 futures on the Chicago Mercantile Exchange declined 3,750 points to 64,025.
