End of QE era? US jobs data beats forecasts

The US economy added 175,000 jobs in May, beating analyst expectations, although the unemployment rate ticked up in what was dubbed the most important jobs release in years.

The unemployment rate was 7.6%, a slight increase from the previous rate of 7.5%. Economists had predicted a rise of 165,000, and an unemployment rate unchanged at 7.5%. Revisions to previous months' data were small: March's figure was upped 10,000 to 148,000, while April was revised down 16,000 to 155,000. Following the release of the data, the dollar strengthened against a basket of major currencies, The dollar pared losses versus the yen to trade at ¥96.10 from ¥96.99 The greenback was on course for its worst week versus the Japanese yen since October 2008. The release was la...