3 Apr 2015
USD/JPY drops below 119.00 after weak nonfarm payrolls
FXStreet (Córdoba) - USD/JPY fell sharply and briefly dropped below the 119.00 level after US nonfarm payrolls report missed by far expectations.
US nonfarm payrolls showed the economy created only 126,000 new jobs in March, well below expectations of 244,000 and less than half of the 264,000 jobs added in February (revised down from 295,000).
USD/JPY fell sharply and scored a 1-week low of 118.89 immediately after the data,although it has recovered some ground in the subsequent minutes. At time of writing, the pair is trading at the 119.00 area, recording a 0.59% loss on the day.
The dollar weakened across the board as weak jobs data raises doubts the Federal Reserve would take the jump and hike rates in the June-September period, as the FOMC has reiterated they want to see a sustained improvement in the labor market.
US nonfarm payrolls showed the economy created only 126,000 new jobs in March, well below expectations of 244,000 and less than half of the 264,000 jobs added in February (revised down from 295,000).
USD/JPY fell sharply and scored a 1-week low of 118.89 immediately after the data,although it has recovered some ground in the subsequent minutes. At time of writing, the pair is trading at the 119.00 area, recording a 0.59% loss on the day.
The dollar weakened across the board as weak jobs data raises doubts the Federal Reserve would take the jump and hike rates in the June-September period, as the FOMC has reiterated they want to see a sustained improvement in the labor market.