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December US payrolls rise by 256,000- GBP/USD slumps towards 1.2200

The US December jobs report has now been released. The markets were expecting non-farm payrolls to rise by around 165k last month. They have actually risen by 256k. The underlying rate of unemployment has fallen to 3.9% Annualised averages were forecast to remain at 4%. They have only risen by 3.9%. The immediate reaction to this data has seen the dollar jump across the board. The USD/JPY has surged to a new 2025 high above 158.75. The GBP/USD has fallen to a new 2025 low around 1.2211. 
 

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