U.S. jobless report impacts greenback's performance

Uplifting news about the U.S. employment market pushed up the value of the U.S. dollar against the Japanese yen on Friday, according to Bloomberg.

The U.S. Labor Department indicated nonfarm payrolls increased 243,000 from December to January, as the jobless rate in the nation hosting the globe's biggest economy sank to 8.3 percent. The development dimmed prospects of the U.S. Federal Reserve implementing another round of intervention to spur the economy, such as asset purchases.

"To the extent that this a genuine number and indicative of trend, you would think that the market would scale back quantitative-easing expectations, which would perversely be good for the dollar," currency strategy head Ray Attrill with BNP Paribas in New York told the news service.

But the world's reserve currency did not fare as well against the shared currency of the European Union in response to the news about the U.S. job market, according to The Wall Street Journal.

With the monthly jobs report of the U.S. market being significantly better than anticipated, the morning activity on foreign exchange markets saw the greenback fall in value against the euro with the performance against the yen being the dollar's only strong point.