Forex News – US Non-farm payrolls rise more than expected

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The United States added more jobs than forecast in January according to the US Labor Department on Friday. 243,000 jobs were added to the economy beating expectations of 150,000, which was lower than December’s 200,000.

The data signals that the US economy is beginning to gather momentum in growth. Data show that the main driver behind the boost in job numbers were expansion in the manufacturing sector as well as increase in professional services, leisure and hospitality and health care.

The additional jobs created helped lower the official unemployment rate to 8.3 percent from 8.5 percent.

Dollar jumped against the yen after the data, with USDJPY hitting 76.48 from 76.22.

Risk sentiment was boosted, helping euro rise against the dollar to 1.3201 from 1.3167.