Japanese Yen Bounces as Tokyo Stops Telegraphing Its Punches

The Japanese yen recovered sharply on Thursday, climbing from multi-decade lows against the US dollar. The move was not linked to any action from the Bank of Japan but instead reflected a weaker-than-expected US June Nonfarm Payrolls report, which weighed on the dollar broadly.

Additionally, rising fears of a fresh intervention by Japanese authorities—who have recently stopped signaling their moves—added to the downward pressure on USD/JPY. The pair is now on track for its first weekly decline in eight weeks, suggesting a potential shift in momentum after a prolonged yen sell-off.