FOREX-Dollar drops as employers add fewer jobs than expected in April

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Jun 17, 2007
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The dollar fell to a three-week low against the yen on Friday after data showed U.S. jobs growth slowed more than expected in April and annual wage gains cooled, boosting bets that the Federal Reserve will cut rates twice this year. The unemployment rate rose to 3.9% from 3.8%, remaining below 4% for the 27th straight month. "The data's soft across the board from the Fed's perspective," said Jason Pride, chief of investment strategy and research at Glenmede in Philadelphia.
 
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