US companies scaled back hiring sharply last month, adding to evidence that the economy has lost momentum since the start of the year and triggering a decline in the dollar. Payrolls increased by 126,000 in March, well below Wall Street’s 245,000 consensus forecast and snapping a 12-month spell of gains above 200,000, the Bureau of Labor Statistics said. The previous two months’ readings were also revised down by a net 69,000 jobs, while the unemployment rate was unchanged at 5.5 per cent, according to the report. Job gains were seen in professional and business services, healthcare and the retail sector, while the mining industry lost posts as the oil price fell . The figures are likely to contribute to a mood of caution at the Federal Reserve , where the majority of policy makers are still expecting to lift interest rates this year. Janet Yellen, the central bank’s chairwoman, […]