Yen Rises US Jobs Down

Yen Rises to Highest Versus Dollar Since July as U.S. Jobs Fall
Sept. 5 (Bloomberg) -- The yen rose to the highest level against the dollar since July after the U.S. lost jobs for an eighth month and touched a one-year high versus the euro as investors sold higher-yielding assets funded in Japan.
Japan's yen rallied against most of the world's major currencies on concern credit-market losses will lead to a global recession. The Australian and New Zealand dollars dropped to a two-year low on speculation a slump in stocks and commodities encouraged investors to reverse carry trades.
The yen rose for a third day against the dollar, increasing 0.7 percent to 106.36 at 10:31 a.m. in New York, from 107.08 yesterday. It reached 105.55, the highest since July 17. Japan's currency climbed 1.1 percent to 151.66 versus the euro, from 153.40, and touched 150.60, the highest since Aug. 17, 2007. Against the euro, the dollar traded at $1.4261, compared with $1.4325. It touched $1.4196, the strongest since Oct. 24.