U.S. Dollar falls against the Yen

Today, the U.S Dollar slipped against the Japanese Yen ahead of the payroll data from the U.S., which is due out later in the day.  It is expected that this data will show a significant reduction in jobs in the U.S., while the Euro fell following a mixed bag of poor economic data from the Euro Zone.  U.S. job data for December is expected to fall by 550,000 jobs and also show an unemployment rate higher than previous months.

Wednesday's bleak U.S. ADP report confirmed that private-sector job cuts were 693,000; thereafter, economists quickly revised their forecasts for non-farm payrolls in the U. S. for December to reflect 550,000 job losses.  Previous job loss estimates in December was half a million.

Today, the U.S, Dollar fell by 0.4% against the Japanese Yen and traded at 90.67 Yen.  The U.S. Dollar .DXY dropped slightly slipped by 0.1% against a basket of major currencies and traded at 81.476.  By 12:05 GMT, the Euro changed slightly and traded at $1.3714, having dropped to $1.3633 earlier that day, a session low.  The Euro was briefly supported on news that Russia has reached an agreement with Ukraine with respect to the gas dispute.