FOREX-Dollar rallies as U.S. cuts fewer jobs than expected

* Dollar soars vs yen, euro on surprise jobs data

* U.S. job loses in Nov of 11,000 far fewer than expected

* Classic "Buy North America" day

* Talk of renewed yen carry trade emerging

* China says dollar still at heart of its FX reserves (Updates prices, adds quotes, detail on jobs data)

By Steven C. Johnson

NEW YORK, Dec 4 (Reuters) - The dollar soared against the yen on Friday and rose against the euro after data showed the United States shed a far fewer-than-expected 11,000 jobs last month, boosting hopes that recovery is picking up steam.

Markets had expected job losses of 130,000 in November, and the surprisingly strong report fed speculation that the Federal Reserve may soon have to consider raising interest rates from record lows near zero.

The dollar approached 90 yen for the first time in three weeks and was on track for its best day against the Japanese currency since August, while the euro fell below $1.50.