US dollar bounces as strong jobs report likely delays Fed easing this year

NEW YORK, June 7 - The U.S. dollar rebounded on Friday after data showed the world's largest economy created a lot more jobs than expected last month, suggesting that the Federal Reserve could take time in starting its easing cycle this year.

U.S. nonfarm payrolls expanded by 272,000 jobs last month, data showed, while revisions showed 15,000 fewer jobs created in March and April combined than previously reported. Economists polled by Reuters had forecast payrolls advancing by 185,000. "The markets and the Fed bow down to the holy grail of one number, and it is the payrolls report. Of course, it is not just about that headline print but also the higher-than-expected wage number," said David Rosenberg, founder and president of Rosenberg Research in Montreal.

The dollar rose 0.6% against the yen to 156.64 . The U.S. currency was still down 0.4% on the week, on track for its worst weekly performance since late April, or around the time Japanese monetary authorities stepped in to the market to prop up the yen.

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