Yen surges on soft US jobs data

The US economy added fewer jobs than expected in April, triggering a fall in the dollar against the yen.

The Labor Department said on Friday that nonfarm payrolls increased by 175,000. The unemployment rate ticked up from 3.8 to 3.9 percent.

The tight US labor market has been driving inflation.

The new data saw the dollar fall more than 1 yen to the upper 151-yen range at one point, amid speculation the Federal Reserve could lower interest rates earlier.