RTTN: Japanese Yen Strengthens Against Most Majors
(RTTNews) - The Japanese yen edged higher against most of its major counterparts in early New York trading on Friday as a weaker-than expected U.S. job growth in December prompted traders to seek safe-haven assets.
The Labor Department said non-farm payroll employment increased by 103,000 jobs in December following an upwardly revised increase of 71,000 jobs in November. Economists had expected employment to increase by about 160,000 jobs.
Meanwhile, the report also showed that the unemployment rate fell to 9.4 percent in December from 9.8 percent in November. The unemployment rate had been expected to show a much more modest decrease to 9.7 percent.
As of 8:55 am ET, the yen traded higher at 83.05 against the US dollar, 83.73 versus the Canadian dollar, 107.83 against the euro, 128.52 against the pound and 86.09 against the Swiss franc.
The yen, however, pared gains shortly after hitting a high of 62.88 against the NZ dollar and 82.36 versus the aussie around 8:35 am ET.
