The Japanese yen edged higher across the board on Friday morning in New York as investors seek safe-haven currencies after a report showed that the U.S. employment increased by less than economists had predicted.
While the U.S. economy saw continued job growth in the month of June, a report released by the Labor Department showed that non-farm payroll employment rose by 80,000 jobs in June following an upwardly revised increase of 77,000 jobs in May.
Economists had expected employment to increase by about 100,000 jobs compared to the addition of 69,000 jobs originally reported for the previous month.
Despite the continued job growth during the month, the unemployment rate remained unchanged at 8.2 percent, in line with economist estimates.
The yen surged following the report, hitting 1-month highs of 81.76 against the Swiss franc and 98.18 against the euro around 8:50 am ET.
The yen also advanced to new multi-days highs of 123.46 against the pound, 63.56 against the NZ dollar, 81.34 against the Australian dollar and 78.51 against the Canadian dollar.
The yen tested yesterday's highs against the US dollar, rising as much as 79.58 around 8:30 am ET.
by RTT Staff Writer
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