The dollar fell against the yen on Friday after a much softer-than-forecast U.S. non-farm payrolls report, backing expectations of gradual pace of interest rate increases this year.
Companies added more workers than forecast in December, indicating the U.S. job market was sustaining strength as 2014 drew to a close, according to a private report based on payrolls.
Is an MAR14 E-mini S&P 500 top in place (for the short term)? We think this recent bull run is getting out of breath at these levels, and believe a very healthy pullback to 1800 could be on the horizon.
Treasuries rose after a government report showed the U.S. added fewer jobs than forecast in December, curbing bets the Federal Reserve will further reduce quantitative bond purchases later this month.
The U.S. economy added only 74,000 jobs in December when analysts were expecting to see a gain of approximately 200,000. The unemployment rate fell to 6.7%.
