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The US economy added far fewer jobs than thought in March, albeit with lower unemployment, giving US government debt a jolt higher.

The dollar now stands 0.5 per cent lower on the day against the yen, at Y110.22, while 10-year US Treasury yields, which move inversely to prices, have dropped to 2.287 per cent, down by 0.057 percentage point on the day.

It’s worth bearing in mind, however, that the yen and Treasuries were both already well supported by the fresh wave of geopolitical tensions stemming from US air strikes in Syria.

Copyright The Financial Times Limited 2017. All rights reserved.

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