Lower Amount of New Jobs Pushes Dollar Down vs. Yen

The U.S. dollar weakened today against the Japanese yen, erasing its yesterday’s gains, after the nonfarm payrolls showed the lower number of new employees hired than was expected, causing the concern for the economic recovery.
The nonfarm payroll employment grew by 431,000 in May, compared with the estimated increase of 521,000. The low number of the new jobs makes one question if the U.S. economy recovers with the expected pace or it’s going to lag behind the stronger economies.
USD/JPY trade at about 92.05 today as of 13:31 GMT, falling from its opening price of 92.69.

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