Dollar Falters After Weak US Jobs Data, Yen Rebound Short-Lived

The US Dollar Index (DXY) fell 0.23% after Friday's release of the United States employment report, which showed Nonfarm Payrolls (NFP) increased by only 29K in September, well below market expectations of 90K.

The US Bureau of Labor Statistics (BLS) reported that August's increase is downgraded to 133K from the initially reported 162K, while July now shows a decline of 10K jobs compared with a previously estimated gain of 21K.

Despite the weak data, the US Dollar Index remains close to its daily lows, and USD/JPY trades around 157.65 on Friday at the time of writing, down 0.28% on the day.

The pair briefly dropped to 156.95 following the release of the employment report before erasing the entire move and returning to pre-release levels.