USDJPY 1 hour
There were surely some cheers in Japan following today’s US non-farm payrolls report. The softer reading and details have weighed heavily on the dollar, dropping USD/JPY through 150.00 and down to 149.30.
USD/JPY came into the week in a precarious position with the BOJ, Fed and US jobs report on tap. They’ve now run the gauntlet and left the pair weaker than last Friday.
More broadly, the US dollar is 50-80 pips softer across the board. Commodity currencies are taking advantage as the move has been coupled with falling Treasury yields and a boost to equity futures.
The next risk to the dollar come in just over an hour when the ISM services report will be released.