Dollar hits intraday low vs. yen after ADP report
San Francisco (Feb 5) The dollar extended its loss against the yen Wednesday after a report on private-sector employment showed a slower pace of growth than expected. Private employers added 175,000 jobs in January, according to Automatic Data Processing Inc. Economists surveyed by Dow Jones had expected a slowing in growth to 189,000 new jobs from an originally estimated December gain of 238,000. The dollar fell to an intraday low after the data, fetching ¥100.91 in recent trade from ¥101.67 late Tuesday. The dollar bought ¥101.06 just before the ADP report.