The dollar/yen rose to 158.57 yen on the back of strong US jobs data.
【11/6Market Overview
Tokyo time, the dollar/yen fell to157.25yen in the morning on the backdrop of the previous day’s U.S.-Japan stock declines. After selling pressure eased, it was bought back to158.00yen, and subsequently traded with little movement in the high 157s. In European hours, dollar buying led by euro/dollar declines pushed the dollar/yen up to158.37yen.New York10month U.S. employment data showedNFP(Non-Farm Payrolls) rising by6.5ten thousandten thousand versus expectations; the unemployment rate was4.2%, while the actual was4.1%, a strong result, sending the dollar/yen up to158.57yen. Afterward, amid a decline in U.S. 10-year Treasury yields, it cooled back to157.99yen.
【11/9Market View