💱US Dollar/Japanese Yen FX Spot Rate
USDJPY
▼ NegativeMonetaryrelevance
Weak US jobs report reduces rate hike expectations, weakening USD; yen surges on intervention fears.
Impact on assets 1
Others
The dollar fell sharply on Thursday after the June employment report showed U.S. employers added far fewer jobs than expected, while the Japanese yen surged as traders braced for possible intervention by Japanese authorities. Employers added 57,000 jobs, below economists' expectations for 110,000 job gains, and unemployment slipped to 4.2% from 4.3%. Fed funds futures traders now see a 53% chance of a rate hike by September, down from 67% before the report. The dollar index was last down 0.66% at 100.73, with the euro up 0.63% at $1.1448. The yen strengthened 0.91% to 160.97 per dollar and reached 160.62, its strongest since June 18, as sources told Reuters Japanese officials were adopting a more aggressive intervention strategy to keep traders guessing.
Weak US jobs report reduces rate hike expectations, weakening USD; yen surges on intervention fears.