Dollar/Yen declines sharply amid weaker-than-expected U.S. jobs data and falling Dow Jones Industrial Average.

【8/2Market Overview

In Tokyo time, USD/JPY fell to148.88yen amid declines in US and Japan stock index futures, then rebounded to149.77yen on domestic demand for dollars. In European trading, USD/JPY hovered around149yen ahead of the U.S. employment data.NYSE time,7 months’ non-farm payrolls showNFP rising by11.4 ten-thousand jobs versus the forecast17.5 ten-thousand jobs, and the unemployment rate4.3% versus the forecast4.1%, indicating weaker than expected results. This raises concerns about the U.S. economy, and with the drop in the U.S. 10-year Treasury yield, USD/JPY fell to146.41yen.