Dollar/yen declines after US Nonfarm Payrolls (NFP) forecast misses expectations, briefly dipping to 160.62 yen.

【7/2Market Overview

Tokyo time, USD/JPY remained in a range around the 162.50 level, but as afternoon in Tokyo began162.50yen area within a range, with adjustments seen ahead of the June U.S. jobs report6and the previous day’s low of162.30yen was broken to161.10yen. In European trading, some wires reported that “the Japanese government is moving away from the tradition of ‘jawboning’ to hint at intervention and is adopting a stance that tightens speculative players and raises the cost of selling the yen,” which lifted caution for an unexpected intervention, and USD/JPY fell to160.89yen, but ahead of the U.S. employment report, it recovered to161.64yen. In New York time,6month U.S. employment data includedNFP (Non-Farm Payrolls) which rose by5.7hundred people less than consensus11.3ten thousand, and the figures for the prior2months were revised downward.The possibility of a June rate hike by the Fedremained uncertain, and USD/JPY fell to160.62yen. After the selling eased, with a pause in position adjustments ahead of the U.S. three-day weekend, the pair fluctuated around3100yenyen corresponded around161.00, showing minor movements.

【7/3Market View