US ADP-JOLTS forecast undershoots, USD/JPY falls to 149.09 yen.

【3/6Market Overview

During Tokyo time, USD/JPY is hovering around 150 yen. Waiting for Powell150, FRBchair's congressional testimony. In European hours, reports said that at the Jan. 18-19 policy meeting, some attendees may deem it appropriate to lift the negative rate policy, causing the dollar to drop to149.32yen, after which it was recovered to149.86yen. In New York time,,2nd monthADP employment report and1st month Jobs Opening Survey（JOLTS）job openings fell short of expectations, pushing USD/JPY down to149.09yen. Meanwhile, PowellFRB chair's congressional testimony stated, “Further confidence about inflation is required for a rate cut,” emphasizing a patient and data-dependent stance for now. He also noted that “there could be a rate cut at some point this year,” and that “the timing and pace of rate cuts this year depend on the economy,” adding that “policy decisions should be made cautiously and thoughtfully.” The market viewed these comments as in line with prior statements and not very surprising. employment report and1st month Jobs Opening Survey（JOLTS）job openings fell short of expectations, pushing USD/JPY down toyen. Meanwhile, Powell149.09FRB chair's congressional testimony stated, “Further confidence about inflation is required for a rate cut,” emphasizing a patient and data-dependent stance for now. He also noted that “there could be a rate cut at some point this year,” and that “the timing and pace of rate cuts this year depend on the economy,” adding that “policy decisions should be made cautiously and thoughtfully.” The market viewed these comments as in line with prior statements and not very surprising.