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USD/JPY slips after US February ADP payroll misses forecasts

The February ADP, privately sourced monthly payroll report has now been released. The markets were generally forecasting a rise of 150k last month, up from the 107k gain seen in January. The actual number has just been released at 140k. So, that is just shy of forecasts, but massively so. However, the immediate reaction in the dollar has seen it fall back versus the Yen. The earlier rebound high this morning was set at around 149.80. The USD/JPY is currently trading at 149.55

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