Bank of Japan officials will be watching today’s NFP report with interest to see the reaction of the US dollar. Another leg higher for the greenback may force the Japanese central bank into the market.
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Oct 5, 20232023-10-05 11:17:34) is a closely watched monthly event that normally causes a dash of volatility going into the weekend.
If these numbers come in lower-than-expected, or if there are any substantial downward revisions to August’s data, the US dollar is likely to fall, in turn taking USD/JPY lower. Any unexpected strength in the numbers will rekindle thoughts that the Fed will have to increase rates again this year, pushing the dollar, and USD/JPY higher. If this happens and USD/JPY breaks above 150, then the BoJ may need to step in and take action.
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