JPY Intervention Risk High After Soft US Jobs Data
The dollar weakened after softer US jobs data, but analysts see limited room for further USD losses. Focus remains on potential Japanese yen intervention as the yen strengthens.
USDJPY
The US dollar came under pressure following softer-than-expected US jobs data, with the report failing to provide a clear catalyst for continued dollar weakness. Analysts noted that the data alone is insufficient to drive a sustained decline, pointing to near-term stabilisation in the greenback.
Meanwhile, market attention is fixed on the yen, with authorities on high alert for possible intervention. Recent yen strength has raised the likelihood of official action to curb further appreciation, adding a layer of uncertainty for USD/JPY.
Source: FXStreet Forex News