Japanese Yen Rises as US Jobless Claims Fail to Support US Dollar
USD/JPY traded lower near 162.30 on Thursday as the Japanese Yen recovered ground, while the US Dollar failed to gain support from stronger-than-expected US labor market data.
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The Japanese Yen strengthened on Thursday, pushing USD/JPY down to the 162.30 area. This retreat from recent highs comes as the US Dollar struggles to find support from the latest US labor market figures.
US jobless claims data came in stronger than anticipated, yet failed to provide a lift for the greenback. Market participants interpreted the numbers as insufficient to shift the broader dollar-negative sentiment, allowing the yen to recoup some of its earlier losses.
Source: FXStreet Forex News