close
close

The yen rises on soft US job figures

The US economy created fewer jobs than expected in April, leading to a decline in the dollar against the yen.

The Department of Labor said Friday that nonfarm payrolls increased by 175,000. The unemployment rate rose from 3.8 to 3.9 percent.

The tight US labor market has fueled inflation.

According to the new data, the dollar fell more than 1 yen at one point to the upper range of 151 yen, amid speculation that the Federal Reserve could cut rates sooner.