USD/JPY strengthened despite an increased unemployment rate.

Create at 6 months ago (May 06, 2024 19:13)

The US dollar came under pressure due to weaker-than-expected US employment data last Friday, leading to increased speculation about the Federal Reserve's interest rate cut.


Austan Goolsbee, Chairman of the Federal Reserve Bank of Chicago, commented that the Fed might keep interest rates low longer than expected. However, an increasing unemployment rate could pressure the Fed to begin lowering interest rates.


As for the Japanese yen, there remains a risk of currency intervention. Reports suggest that the Bank of Japan may allocate approximately 6.0 trillion yen to support the yen, which has been continuously weakening.

 

Source: Fxstreet
 
USD/JPY news today

Overview
Today last price 153.72
Today Daily Change 0.68
Today Daily Change % 0.44
Today daily open 153.04
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