USD/JPY Near 118 after U.S. Payrolls Disappoint

The dollar nursed losses early on Monday, having suffered a setback after an unexpected fall in U.S. wages tainted what was otherwise a robust report on the labor market.

Investors were quick to cut long dollar positions after wages posted their biggest decline in at least eight years in December, even as payrolls increased by a brisk 252,000.

The greenback dipped as far as 118.22 yen first thing on Monday, reaching a low last seen on Jan. 6. The euro edged up to $1.1857, pulling away from a nine-year trough of $1.1754 plumbed on Thursday.


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