Dollar Weakens Amid Slowed U.S. Job Growth and Rising Unemployment

The dollar dipped against the Japanese yen after reports showed slowed U.S. job growth in June and a rise in unemployment to 4.1%. The dollar index also fell, with May's job gains revised down significantly.

The dollar briefly extended declines against the Japanese yen on Friday after data revealed that U.S. job growth slowed in June, albeit maintaining a still-healthy pace, and the unemployment rate increased to 4.1%.

Against the Japanese yen, the dollar was last down by 0.22%, resting at 160.89. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, dropped by 0.2% to 104.95.

The latest report from the Labor Department's Bureau of Labor Statistics indicated that nonfarm payrolls increased by 206,000 jobs in June. Notably, data for May was significantly revised downward to reflect 218,000 jobs added, contrasting the previously reported 272,000.

(Additional reporting by Iain Withers, Editing by Anil D'Silva and Chizu Nomiyama)

(Disclaimer: With inputs from agencies.)