The USD/JPY moved into a temporary dip to the low 148s as ADP came in below expectations, amid unstable movements due to Trump's tariffs.
【3/5Market Overview
Tokyo time, USD/JPY rose to150.18yen on the observation of dollar buying at the order balance, but then moved in a narrow range around150yen. In European hours, expectations that European countries would actively support Ukraine and the view that German fiscal policy would be expansionary led to a sharp rise in German 10-year yields, fueling euro buying and dollar selling, with USD/JPY falling to149.09yen.NYtime, when U.S. Commerce Secretary Latner said that “President Trump is likely considering reducing tariffs on Canada and Mexico,” USD/JPY rose to149.74yen, but2nd month U.S.ADPemployment data came in lower than expected, showing an increase of14.0ten thousand jobs versus7.7ten thousand in the forecast, causing USD/JPY to temporarily fall to148.39yen. Afterwards,2nd month U.S.ISMNon-Manufacturing PMI came in higher than expected at53.5vs. consensus52.6, lifting USD/JPY to the high 140s again.
【3/6Market View