* Dollar jumps after U.S. payrolls rise by 175,000 in May
* Data not seen strong enough to prompt early Fed tapering
* Stock futures point to firmer Wall Street open
By Richard Hubbard
LONDON, June 7 The dollar jumped and shares
edged higher on Friday after U.S. jobs data for May suggested
the economic recovery is steady but not strong enough to
convince the Federal Reserve to start cutting back its monetary
Employment outside the farming sector in the world's
leading economy rose by 175,000 last month, close to forecasts
for 170,000 new jobs. The unemployment rate ticked up to 7.6
percent from 7.5 percent, which was its lowest since December
"It's not a gang-busters, barn-burning, the
economy-is-soaring kind of number, but it shows people
re-entering the workforce," said Steve Blitz, chief economist at
ITG Investment Research in New York.
The dollar initially jumped above 96 yen after the data
from about 95.68 yen before, settling at 95.85 yen.
Against the euro, the dollar gained 0.3 percent to $1.32.
U.S. stock index futures pointed to a firmer start when
Wall Street opens while European shares edged away from six-week
lows to be up 0.3 percent. That left MSCI's world equity index
slightly firmer but still on course for its
third week of losses.
Long-dated Treasury bonds fell a point, with the 30-year
down 1-5/32 in price at 91-28/32. It yielded 3.305
percent, up 6.5 basis points from late on Thursday.