Dollar Gains as U.S. Adds More Jobs, Damping Fed Easing Outlook

The dollar gained, recovering from an almost postwar low against the yen, after U.S. employers added more jobs than forecast, damping speculation the Federal Reserve will add another round of asset purchases to spur growth.

The Japanese currency dropped, after trading within one yen of its post-World War II high versus the dollar, reducing speculation the nation will intervene in the currency market to stem its appreciation. The Fed’s last two debt-purchase programs, known as quantitative easing, boosted riskier assets as investors shunned low yields in the U.S. Higher yielding currencies led by South Africa’s rand and Mexico’s peso rose as stocks and commodities gained.