GLOBAL MARKETS-U.S. data boost equities, dollar

Fri Feb 3, 2012 8:23pm GMT
 

(Updates prices)

* U.S. nonfarm payrolls better than expected, ease QE3 hopes

* Pace of growth in U.S. services sector accelerates in Jan

* Expectations of Japanese forex intervention ease

By Luciana Lopez

NEW YORK, Feb 3 (Reuters) - Stocks surged and the dollar rose against the yen on Friday as news of a jump in U.S. job creation fueled hopes for recovery in the world's largest economy, while uncertainty over a Greek debt restructuring deal helped keep the euro little changed.

The January U.S. jobs report propelled the Nasdaq stock index to an 11-year high, with European stocks closing at their highest in more than six months.

The data also lowered expectations for more monetary policy easing by the U.S. Federal Reserve, with analysts saying a brightening economy could support fewer arguments for stimulus.

U.S. job creation last month far outstripped analysts' expectations, with the unemployment rate dropping to a near three-year low of 8.3 percent.   Continued...

Market Update

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UK £ USD =1.5792
Euro USD =1.2753
Rand USD =0.1214