U.S. employment data exceeded expectations, and although there is caution about intervention, the USD/JPY rose to 160.34 yen.

【6/5Market Overview

Tokyo time, the USD/JPY generally lacks a clear direction,159.90around the 159.90 yen level with minor moves. Comments from Finance Minister Katayama such as “we will respond appropriately if needed in the foreign exchange market” were reported, but their impact on the market was limited. In European hours, the USD/JPY hovered around the 159.90 yen level but remained firm.NYtime,5Month’s U.S. employment dataNFPshowing a higher-than-expected rise in nonfarm payrolls by172,000versus the forecast of85,000increases,the market anticipated more rate hikes from the Fedthis year, and along with rising U.S. 10-year Treasury yields, the USD/JPY rose to160.26yen. Thereafter, amid caution about possible yen-buying interventions by Japanese authorities, it fell to159.72yen. However, buying recovered and it climbed to160.34yen.

【6/8Market View