Dollar falls vs yen as US revisions show nearly a – Money News
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) – The U.S. greenback fell in opposition to the yen on Tuesday after the federal government estimated the world’s largest economic system created nearly a million fewer jobs from April 2024 to March 2025, suggesting a far weaker labor market than what initial numbers confirmed within the 12-month period.
The dollar briefly prolonged losses within the wake of the payrolls revisions, however final trimmed them to commerce at 147.94 yen, nonetheless down 0.3% on the day.
The greenback gained in opposition to different currencies, in the meantime, recovering from Monday’s losses as buyers braced for the U.S. shopper costs index information on Thursday.
Data from the Bureau of Labor Statistics confirmed that the payrolls numbers had been revised down by 911,000 jobs within the 12 months to March. In earlier 12-month period by March 2024, the extent of employment was slashed by 598,000 jobs.
According to Action Economics, the downward revision was the biggest determine on file, topping the -824,000 studying in March of 2009 and the -818,000 determine in March final yr. The revision implies job reductions of 76,000 per thirty days for the 12-month time body.
“The only thing growing faster than job-growth skepticism is the pressure on the Federal Reserve to finally sneak in some interest rate cuts because nothing says economic cooling (than) jobs turning into ghost stories,” mentioned Michael Ashley Schulman, chief investment officer at Running Point in El Segundo, California.
“Payroll revisions just turned the job story from fairytale to audit trail with a BLS saying the economy created 911,000 fewer jobs between April 2024 and March 2025, the biggest reality check in years, which is another way of saying the jobs fairy just clawed back a lot of cheer.”
The greenback index rose 0.3% to 97.67, whereas the euro prolonged losses to $1.1721, down 0.4% on the day.
Against the Swiss franc, the greenback rose 0.3% to 0.7959 franc.
Currency
bid
costs at
9
September
03:20
p.m. GMT
Descripti RIC Last U.S. Pct YTD Pct High Low
on Close Change Bid Bid
Previous
Session
Dollar 97.689 97.396 0.31% -9.96% 97.706 97.2
index 53
Euro/Doll 1.1719 1.1764 -0.38% 13.19% $1.178 $1.1
ar 718
Dollar/Ye 147.27 147.42 -0.12% -6.43% 147.385 146.
n 37
Euro/Yen 172.6 173.49 -0.51% 5.75% 173.51 172.
14
Dollar/Sw 0.796 0.7933 0.33% -12.29% 0.7965 0.79
iss 16
Sterling/ 1.3526 1.3545 -0.14% 8.15% $1.3591 $1.3
Dollar 526
Dollar/Ca 1.3833 1.3803 0.22% -3.8% 1.3834 1.37
nadian 94
Aussie/Do 0.6585 0.6592 -0.08% 6.45% $0.6619 $0.6
llar 585
Euro/Swis 0.9328 0.933 -0.02% -0.69% 0.9334 0.93
s 15
Euro/Ster 0.8661 0.8681 -0.23% 4.69% 0.8685 0.86
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