Dollar falls vs yen as data shows big job losses in March
NEW YORK- The dollar fell against the yen on Wednesday after data showed private U.S. employers cut another 742,000 jobs in March, more than economists were expecting.
The March job losses reported by ADP Employment Services marked the biggest since the firm's survey began in 2001.
The dollar fell to 98.60 yen from about 98.75 yen, while the euro dipped to $1.3239 from around $1.3250.
The dollar and yen tend to outperform on bad economic news because they attract safe-haven flows from higher-yielding currencies and assets.
Source: Reuter
US Dollar Report; International
