Dollar/yen falls for the third day on risk-off buying of yen amid declines in the Tokyo and U.S. stock indices.

【1/13Market Overview

Tokyo time, USD/JPY remained subdued as Japan was on holiday, with the dollar following the selling of dollars against CNH (Chinese yuan) and buyers of yuan, drifting from the upper-157s toward the mid-157s.CNH（人民元） selling of the dollar and buying of yuan157 led to a softening toward the upper-157s to mid-157s range. In European hours, USD/JPY weakened on the back of the off-hoursNYDow futures and Chicago Nippon index futures decline, triggering risk-off yen buying and dollar selling, pushing it down to156.91yen.NYTime, after a brief selling period, as last Friday’s12month U.S. jobs report beat expectations, the prospect of Fed rate cuts diminished, leading to a rally back to157.69yen.