The dollar fell against the yen on Friday after a pair of U.S. government reports raised concern about the economy, indicating that hiring slowed in December and the unemployment rose to a two-year high.

Non-farm payrolls were up by 18,000, the slowest growth since 2003, according to the Labor Department. Meanwhile, the jobless rate rose to 5 percent, up from 4.7 in November.

The slower jobs activity may boost the chances that the Federal Reserve will move to perk up the economy by cutting lending interest rates.

The dollar was down to 108.46 yen from 109.32 yesterday. The U.S. currency was at $1.4744 per euro from $1.4750.

Unemployment