* U.S. dollar rises more than 1 percent versus yen
* U.S. Feb payrolls fall 36,000, less than expected (Updates prices, adds comment, changes byline, changesdateline, previous LONDON)
By Wanfeng Zhou
NEW YORK, March 5 (Reuters) - The dollar rose against theeuro and yen on Friday after a government report showed theU.S. economy shed fewer jobs than expected last month, boostingoptimism about an economic recovery.
U.S. employers cut a smaller-than-expected 36,000 jobs inFebruary, the Labor Department said, leaving the unemploymentrate unchanged at 9.7 percent. Analysts polled by Reutersexpected payrolls to drop by 50,000, with the jobless rateedging up to 9.8 percent. For details, see [ID:nN04107795]
"It"s a pretty upbeat report in the face of headwinds fromthe blizzards in February," said Richard Franulovich, seniorcurrency strategist at Westpac in New York. "Overall, this is adollar-positive number, which suggests the U.S. economy is onits way to recovery."
The euro fell as low as $1.3529, according to Reuters data,and last traded at $1.3561, down 0.1 percent on the day EUR=.Before the data, the euro was at $1.3575.
The dollar hit a session high versus the yen at 90.27JPY= after the data, versus 89.50 yen earlier. It was last at90.05 yen, up 1.1 percent on the day.
The yen also came under pressure after sources said the BOJwas likely to debate this month whether to ease its ultra-loosemonetary policy again as it remained under government pressureto help pull Japan out of deflation. [ID:nTOE6230A7] (Additional reporting by Gertrude Chavez-Dreyfuss and NickOlivari; editing by Jeffrey Benkoe)
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