The US dollar recovered some ground against the Japanese yen following the release of slightly higher than expected US nonfarm payrolls data.
The US economy added 215K jobs in March, beating expectations of a 205K gain. However, the unemployment rate edged up to 5.0% from 4.9% the previous month. Revisions showed economy added 1,000 fewer jobs in January and February than previously estimated.
The US dollar was on a steady downtrend against the yen ahead of the employment report, but USD/JPY climbed from a session low of 111.97 to a high of 112.39 as knee-jerk reaction. At time of writing, the pair was trading at 112.25, still 0.27% below its opening price.
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