July JOLTS (U.S. Jobs Report) forecast undershoots, USD/JPY falls to the 143 handle.

【9/4Market Overview

In Tokyo time, USD/JPY fell as the Nikkei stock average dropped sharply, with risk-off yen buying leading the way, briefly breaking the previous low of145.10yen and trading down to as low as144.89yen. After that, a rebound occurred but the pullback was muted. In European hours, with the U.S. Treasuries yields for 10-year down in after-hours trading, the USD/JPY remained soft and hovered around145yen. At thetime,NY7monthJOLTS (Job Openings and Labor Turnover Survey) showed767.3ten thousand jobs, below the forecast810.0ten thousand. It is also noted that the previous month’s figure was revised downward, which raised expectations for a significant rate cut by the FOMC, causing U.S. 10-year Treasury yields to fall and the USD/JPY to decline to143.70yen.