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The yen rose against most of its major counterparts after the U.S. added the least jobs in a year last month, adding to concern global growth is stagnating. Payrolls climbed by 69,000 last month, less than the most- pessimistic forecast in a Bloomberg News survey, after a revised 77,000 gain in April that was smaller than initially estimated, the Labor Department reported. The median estimate called for a 150,000 May advance. The jobless rate rose to 8.2 percent from 8.1 percent, while hours worked declined.
Japan’s currency rose to its strongest in almost four months against the dollar as the premium investors get for investing in U.S. debt over Japanese securities fell to a record.
The euro gained from a two-year low versus the dollar amid speculation its decline was too quick as Spanish bond yields fell for a second day.
The dollar posted its biggest monthly gain since 2011 in May, beating bonds, stocks and commodities for the first time this year as investors sought refuge in U.S. assets while Europe’s sovereign crisis worsened.
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