FOREX-Dollar falls sharply after jobs data misses expectations
By Chibuike Oguh
NEW YORK, Sept 5 (Reuters) - The U.S. dollar fell sharply against major peers on Friday after a crucial jobs data showed that American employers hired fewer than expected workers as the labor market weakens, which likely guarantees a Federal Reserve interest rate cut.
Labor Department data showed that nonfarm payrolls increased by only 22,000 jobs last month, far short of 75,000 positions, according to estimates from economists polled by Reuters.
The dollar fell across the board following the report. It weakened 0.77% to 147.34 against the Japanese yen JPY=EBS and was down 0.73% to 0.8001 against the Swiss franc CHF=EBS.
The euro EUR= was up 0.7% against the dollar at $1.173, while the dollar index =USD fell 0.59% to 97.65.
U.S. Treasury yields fell. The rate-sensitive 2-year note US2YT=RR yield fell 10.3 basis points to 3.489%.
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