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USD/JPY slips slightly as US November ADP misses most forecasts

The November ADP payroll has just been released and it was not very good. ADP payrolls only rose by 103k. The prior number has been revised lower too, from 113k to 106k. The markets had expected a gain or around 130k, but this outcome is within the range of forecasts. The reaction in the markets has seen the dollar fall versus the Yen, but not yet really versus the pound or the Euro. The move lower on the USD/JPY is slight though and perhaps that is something of a surprise. The USD/JPY is now rebounding again, currently trading at 147.18

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