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Dollar Falls against Yen on Weak Jobs Data

Dollar Falls against Yen on Weak Jobs Data (Reuters)

The markets are fully feeling the impact of last Friday’s disappointing jobs data, as today the U.S. dollar dropped to a four-week low against Japan’s yen. The weak jobs data means investors are uncertain about the state of the United States’ economic recovery and the corresponding rate of the Federal Reserve’s stimulus tapering. “The dollar would be vulnerable to further signs of U.S. fragility which would run the risk of buying the Fed more time to keep currency-pressuring policies in place for longer,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.

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