U.S. employment data released, dollar/yen plunges to the mid-146 per dollar level as expectations for a U.S. rate cut rise.

【3/8Market Snapshot

Tokyo time, USD/JPY fell to around 147.53 yen due to expectations of a tweak in the Bank of Japan's monetary policy, but rebounded to around 148 yen at the on-stage fix. In European hours, broad yen buying took place amid reports of possible BOJ policy adjustments.NYtime,2month US employment data showNFP (non-farm payrolls) increasing by275thousand versus an expected200thousand, lifting USD/JPY to147.47yen. However, with revisions downward to the past2months' figures and weaker unemployment rate and average hourly earnings, the prospect of early rate cuts by the Fed loomed, pulling USD/JPY down to146.47yen.