Japanese Yen trades broadly flat against US Dollar, NFP data eyed
The Japanese Yen (JPY) trades almost flat against the US Dollar (USD) at around 158.42 during the European trading session on Friday. The USD/JPY pair consolidates as investors await the United States (US) Nonfarm Payrolls (NFP) data for July, which will be published at 12:30 GMT.
The Japanese Yen remained relatively stable against the US Dollar during the European trading session on Friday, with the USD/JPY pair trading around 158.42. Investors are waiting for the US Nonfarm Payrolls (NFP) data, which will be released at 12:30 GMT. Economists at Deutsche Bank predict a slight increase in headline payrolls (+65k vs. +57k) and private payrolls (+65k vs. +49k).
The unemployment rate is expected to stay unchanged at 4.2%. Meanwhile, the US Dollar Index (DXY) is flat at around 100.00. The impact of the upcoming US NFP data on the Federal Reserve's monetary policy is significant. Japan's Yen has underperformed this week, with no follow-up US-Japan joint intervention.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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