The February U.S. employment data is weak, but with safe-haven dollar buying taking the lead, USD/JPY is in the 158 yen area.

【3/6Market Overview】

In Tokyo time, the dollar/yen pair was hovering around the mid-157s157yen level, and as the Tokyo afternoon began, buying led by gains in the Nikkei average. It rose above yesterday’s high of157.85yen,157.90yen. In European hours, amid continued military clashes between the U.S./Israel and Iran, “safe-haven dollar buying” remained solid,21:3030minutes earlier it briefly rose to158.08yen. It marked a test of the 158 yen handle, the first time since1月23日,158yen level.In NY時間,2月米雇用統計ではNFP（非農業部門雇用者数）は9.2万人減と予想の5.5万人増に反して減少し、失業率が4.4％と予想の4.3％より弱い内容となった。ドル円は一時157.35円まで下押ししたが下値は限定的。中東情勢の緊迫化を背景に原油高・ドル高の流れが継続し、再び158.09円まで上昇。

Moreover, President Trump posted on hisSNSthat “any deal with Iran is only possible through unconditional surrender.” He also reported that “Iran refuses ceasefire talks and is preparing for a U.S. ground invasion,” and that “Iran has threatened to attack U.S./Israel-related vessels in the Hormuz Strait.” As concerns about prolonged instability in Iran grew,WTI crude futures rose to as high as1 barrel =92.61dollars,2023年9月以来約2年半ぶりの高値を記録した。

【3/9Market View】