* C$ down at 94.34 U.S. cents
* Canada adds 24,700 jobs, unemployment rate steady
* May U.S. payrolls report far weaker than expected
* Hungary govt sees deficit overshoot
* Bond prices edge higher across curve
TORONTO, June 4 (Reuters) - Canada's dollar hit its lowest
point in more than a week against the U.S. currency on Friday
afternoon as intensifying concerns about the outlook for
European and global growth outweighed firm domestic jobs data.
North American equity markets were also sharply lower,
contributing to sinking risk sentiment, following softer than
expected U.S. job numbers and news that Hungary's finances were
in much worse shape than previously expected. [ID:nLDE6521H1]
[ID:nN03243431] [.TO] [.N]
"These fears in Hungary of further defaults got the markets
scared again," said Aaron Fennell, senior markets strategist at
"It's basically been a mass exodus into the U.S. dollar
from any asset that's perceived to be risky. That seems to
include the Canadian dollar."
At 3:28 p.m. (1928 GMT), the currency tumbled to C$1.0600
to the U.S. dollar, or 94.34 U.S. cents, its weakest level
since May 27. That compared with C$1.0412 to the U.S. dollar,
or 96.04 U.S. cents, at Thursday's close.
Market players looked past May Canadian job figures, which
were almost double the number expected, prompting analysts to
predict the Bank of Canada would come under more pressure to
raise interest rates again next month despite rocky global
Canadian bond prices were firmly higher across the curve,
following U.S. treasuries, after U.S. nonfarm payrolls rose
less than forecast.
U.S. employers created 431,000 jobs in May, the U.S. Labor
Department said, well below the 513,000 increase predicted by
analysts polled by Reuters. The U.S. jobless rate fell more
than expected to 9.7 percent from 9.9 percent in April.
The two-year Canadian government bond
Canadian cents to yield 1.613 percent, while the 10-year bond
gained 93 Canadian cents to yield 3.281 percent.
(Reporting by Ka Yan Ng; editing by Rob Wilson)