FOREX-Dollar falls sharply after jobs data misses expectations

The U.S. dollar fell sharply against major peers on Friday after a crucial jobs data showed that American employers hired fewer than expected workers as the labor market weakens, which likely guarantees a Federal Reserve interest rate cut. Labor Department data showed that nonfarm payrolls increased by only 22,000 jobs last month, far short of 75,000 positions, according to estimates from economists polled by Reuters.

The dollar fell across the board following the report. It weakened 0.77% to 147.34 against the Japanese yen and was down 0.73% to 0.8001 against the Swiss franc. The euro was up 0.7% against the dollar at $1.173, while the dollar index fell 0.59% to 97.65.

U.S. Treasury yields fell. The rate-sensitive 2-year note yield fell 10.3 basis points to 3.489%.

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