Dollar Sinks To ¥96, May U.S. Jobs Report Blamed

The dollar sank to 96 yen in today's trading in Tokyo.

According to the Yomiuri Shimbun's The Japan News:

At 5 p.m., the dollar was quoted at 96.58-60 yen, still sharply down from 99.26-26 yen at the same time Thursday. The euro stood at 1 dollars.3245-3247, up from 1 dollars.3117-3119, and at 127.93-96 yen, down from 130.21-24 yen. 

The dollar-bearish mood continued into Tokyo trading Friday morning after the greenback broke the 96 yen line temporarily in New York on Thursday, traders said. 

The overseas rout resulted from panic selling of dollars for yen amid jitters over U.S. jobs data for May to be announced by the U.S. Labor Department on Friday, the traders said.

The U.S. jobs report showed that only 175,000 jobs were created in May and unemployment rose to 7.6% from 7.5%. The bulk of the jobs created were paying below-average wages.  Not exactly what we need to improve the economy.  (Source: Bloomberg.)

How's that "hope and change" working out for you?