USD/JPY climbs during the North American session courtesy of solid US jobs data, which spurred a jump from the last two days' lows of 148.26. On its w
USD/JPY ascends to 149.50, rebounding from lows, driven by a US jobs report that eclipsed market expectations. Despite a surge, USD/JPY retraces slightly, settling around 149.20, with US 10-year note yielding at a sturdy 4.780%. Japanese officials express concerns over Yen volatility, while a rise in the 10-year JGB coupon hints at potential BoJ intervention. ay north, buyers reclaimed the 149.00 mark and hit a three-day high of 149.50, underpinned by high US bond yields.
On the Japanese front, authorities remain vocal in regard to “excessive” Japanese Yen volatility in the FX markets. Masato Kanda said on Wednesday, “If currencies move too much on a single day or, say, a week, that's judged as excess volatility.” “Even if that's not the case, if we see one-sided moves accumulate into very big moves in a certain period of time, that's also excess volatility,” he said.
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