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USD/JPY jumps above 147.50 as US payrolls unexpectedly surge in January

The US January monthly jobs report has just now been released and it has surprised to the upside in a big way. US non-farm payrolls rose by a whopping 353,000, where around a 185,000 rise had been forecast. The underlying rate remained at 3.7%. wages rose more than expected too. The dollar has reacted to this data, as indeed it should, by jumping on the news. The USD/JPY has shot above 147.50 immediately on seeing this report. The EUR/USD and GBP/USD have reacted negatively too and the US equity futures have all turned lower. The USD/JPY is currently trading at 147.48

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