The USD/JPY briefly hovered in the low 147s as expectations for additional rate hikes by the Bank of Japan increased amid weak U.S. jobs data.

【3/6Market Overview

During Tokyo time, the dollar/yen rose on the back of a sharp rise in the Nikkei stock average, with expectations of dollar buying at the noon fix as well,149.33yen to rise to. Afterwards, as euro strength led to dollar selling, the dollar/yen fell to148.70yen. In European hours,2025spring wage talks' demands rose for the first time in32years6％ to exceed, and anticipation of early additional tightening by the Bank of Japan grew, turning into yen buying. Also,2103.2months' U.S. corporate layoff numbers from the year-ago period were％, boosting dollar selling, and the dollar/yen briefly fell to147.31yen, the lowest since last year’s10/4to fall about5months. Thereafter, a rapid short-covering rally followed, lifting to the147yen upper levels.NYtime, U.S. Commerce Secretary Raela Latonick’s remarks that “President Trump may delay tariffs on all goods under the USMCA” supported a rebound in the dollar/yen to148.39yen. Subsequently, amid a sharp drop in the Dow Jones, the dollar/yen declined to147.57yen.

【3/7Market View