Japanese Yen JAN8 (6J2801) News

Surprise! U.S. nonfarm payrolls unexpectedly declined by 23,000 in July, with previous two months' figures revised down by a total of 103,000, dampening expectations for further rate hikes.

Expected to rise by 80,000 but plunged by 23,000 instead! The latest U.S. nonfarm payroll data unexpectedly cooled significantly—has a September rate hike become nothing more than wishful thinking?

wallstreetcnAug 7 21:04

Will the market remain firm as concerns over US interest rate hikes fade?

Weekly Outlook, August 10-14: Will the won and yen firm up as concerns over U.S. interest rate hikes recede? The easing of U.S. rate hike concerns is expected to provide support for the won and other currencies. Additionally, sustained optimism over China's economic stimulus measures will continue to be viewed favorably. On the downside, however, a stronger yen could push the won-yen cross rate lower. Furthermore, any renewed escalation of Middle East tensions is expected to intensify selling pressure on the won and other currencies.

Fisco Japan11:46

The market is firm, with risk-on sentiment expected to drive yuan buying and yen selling.

Weekly Outlook, August 10–14: Will the Chinese yuan and the yen firm up? We anticipate a firming trend driven by risk-on sentiment, characterized by yuan buying and yen selling. The United States and Iran are expected to continue exploring a mutually acceptable plan to normalize navigation in the Strait of Hormuz, which should keep concerns over rising oil prices in check. Following the initial surge in oil prices, July US inflation data confirmed a trend of moderating inflation, further dampening expectations for a US interest rate hike in September and bolstering risk-on sentiment. Consequently, we expect the yuan to be bought against the safe-haven yen, supporting a firming trend.

Fisco Japan11:46

Will Markets Lack Clear Direction? US CPI and BOJ Opinions to Serve as Key Catalysts

Weekly Outlook, August 10–14: EUR/JPY is expected to lack a clear directional bias, with the US CPI and BOJ policymakers' views serving as key catalysts. Should the US CPI signal accelerating inflation, the pair could easily rise on dollar strength and yen weakness; however, robust yen-buying pressure persists amid lingering expectations of accelerated rate hikes by the BOJ. Meanwhile, a deterioration in US employment that dampens expectations for Fed rate hikes would likely drive EUR/USD higher, though the resulting impact on EUR/JPY will ultimately hinge on the trajectory of USD/JPY.

Fisco Japan11:41

Following a period of consolidation, the market is experiencing volatile price movements amid a tug-of-war between buyers and sellers in the wake of coordinated intervention.

Weekly Overview, August 3–7: GBP/JPY High: 213.301 yen, Low: 209.569 yen, Close: 212.837 yen, WoW Change: 0% -> Consolidation; volatile trading amid a tug-of-war following coordinated intervention. Amid a strong-yen environment triggered by US-Japan coordinated intervention, the USD/JPY rate plunged to the 155-yen level early in the week, and the GBP/JPY rate also sank to the 209-yen level. However, yen buying failed to sustain against the backdrop of the wide US-Japan interest rate differential, and amid rising crude oil prices and higher US long-term bond yields, the pair recovered to the 213-yen level by mid-week.

Fisco Japan11:40

The market is likely to experience mixed trading, with selective stock picking expected to dominate following the conclusion of the earnings season.

Market Outlook for August 10–14: The Nikkei Average is expected to see a mixed trend. With the round of corporate earnings announcements drawing to a close, the market is highly likely to be driven by selective buying based on a careful assessment of earnings results. Amid an expected decline in market participation due to the Obon holiday, trading in news-driven stocks by individual investors may also become more active. Meanwhile, caution is warranted regarding rising interest rate hike expectations driven by upside surprises in inflation indicators such as the U.S. Consumer Price Index (CPI), as well as any further appreciation of the yen in the foreign exchange market.

Fisco Japan11:39

It firmed slightly, tracking the U.S. dollar higher.

Weekly Overview: August 3 to August 7. Chinese yuan/Japanese yen - High: 23.465 JPY, Low: 23.256 JPY, Close: 23.3918 JPY, Week-on-Week: 0.2% -> Slightly firm, edging higher in tandem with the U.S. dollar. As the renminbi is traded based on the reference rate against the U.S. dollar set by the People's Bank of China (the central bank), it exhibits a high degree of correlation with the U.S. dollar. The U.S. dollar, in turn, edged slightly higher against the yen, driven by position-adjustment buying that emerged in the aftermath of the joint Japan-U.S. intervention, as well as yen selling and dollar buying triggered by the rise in crude oil prices in the latter half of the week. Renminbi

Fisco Japan11:38

The yen has only stabilized temporarily—what happens after the midterm elections?

Former Wall Street fund manager Ed Dowd believes that the timing of this intervention closely coincides with the U.S. midterm elections, and its primary objective is to prevent Japan from selling over USD 1 trillion in U.S. Treasury securities and to curb a sharp rise in U.S. Treasury yields, thereby avoiding pre-election economic turmoil that could harm the ruling party’s interests. However, structural issues such as the U.S.–Japan interest rate differential remain unresolved, and post-election political incentives to support markets will likely wane, potentially leading to renewed yen weakness and posing even sterner tests for financial markets.

wallstreetcnAug 8 13:12

Weekly FX Review: Historic Coordination Shakes Currency Markets? Yen Surges Then Pulls Back; Nonfarm Payrolls Surprise to the Downside, Dollar Hits Seven-Week Low

During the first week of August just passed, global foreign exchange markets experienced an unusual storm. The U.S. dollar fell sharply against the Japanese yen last week, pulling back from above 163—near a 40-year low—to around 157.5, supported by coordinated intervention from the United States and Japan, their first joint market action since 1998. However, this 'historic' intervention effort, which committed over $100 billion according to market estimates, faced a severe test within just one week: the yen strengthened to 155.22 on Monday but subsequently gave back nearly half of its gains, leaving it range-bound for the rest of the week. Meanwhile, the U.S. Dollar Index declined for the second consecutive week, hitting a seven-week low amid disappointing nonfarm payroll data.

FX678 FinanceAug 8 11:56

To Understand the Yen's Plight, Look to The Bond Markets -- Barron's

Barron'sAug 8 09:30

Expectations for interest rate hikes have receded following a negative surprise in the U.S. July employment report, prompting a pullback in the U.S. dollar to 156.68 yen / $1.1581.

[London Market Overview] In the London foreign exchange market on the 7th, the USD/JPY pair edged slightly lower. Crude oil prices and U.S. long-term yields both softened, prompting dollar selling that pushed the pair down from 158.47 yen to 158.32 yen. However, the decline was limited as investors adopted a wait-and-see stance ahead of the U.S. employment report. The EUR/USD pair advanced from 1.1518 to 1.1531 amid dollar selling driven by falling crude oil prices and lower yields. Tracking the EUR/USD pair, the EUR/JPY pair also moved higher, rising from 182.49 yen to 182.59 yen.

Fisco JapanAug 8 05:33

Nonfarm payrolls dealt a sharp blow to the dollar, sending the yen up more than 1% intraday! Japan's finance minister stated that Tokyo is maintaining close communication with the U.S. and will take action if necessary.

U.S. nonfarm payrolls unexpectedly turned negative in July, causing the dollar to weaken significantly and driving a sharp appreciation of the yen on Friday. Meanwhile, Japanese Finance Minister Satsuki Katayama stated that Japan and the United States maintain close communication and will not hesitate to intervene in the foreign exchange market if necessary, further reinforcing market expectations of coordinated intervention. Analysts believe the recent yen rally is primarily driven by expectations of a narrowing interest rate differential between the U.S. and Japan, while signals of potential official intervention continue to provide support to the currency market.

wallstreetcnAug 8 01:19

Analyse De FP Markets : Le Yen Japonais À La Croisée Des Chemins Alors Que Les Marchés S'interrogent Sur Son Prochain Mouvement

PR NewswireAug 8 00:38

U.S. nonfarm payrolls unexpectedly turned negative in July, sharply weakening the dollar; markets have scaled back expectations for a September rate hike, and the Federal Reserve may remain on hold.

U.S. July employment data came in weaker than expected, further diminishing market expectations of a near-term Federal Reserve rate hike, sending the dollar lower on Friday.

Zhitong FinanceAug 8 00:07

Week Ahead for FX, Bonds: U.S. Inflation Data in Focus

Dow JonesAug 7 23:12

[Flash] USD/JPY at 157.95, US July NY Fed 1-year inflation expectations fall unexpectedly

USD/JPY is trading at 157.95, and US one-year inflation expectations from the July New York Fed survey unexpectedly declined.

Fisco JapanAug 7 23:04

US Dollar Falls On Dismal July Non-Farm Payrolls Data

InvestingCubeAug 7 22:34

Express News | "Surprise" Weak NFP Data Spurs Sharp Yen Rally, but Traders Remain Cautious on Intervention Risk

BreakingsAug 7 21:04

[Flash] USD/JPY reaches 156.68 as expectations for US interest rate hikes recede.

The USD/JPY exchange rate fell to 156.68 yen as expectations for U.S. interest rate hikes receded.

Fisco JapanAug 7 21:01

Nonfarm payrolls plunged by 23,000 in July! Gold prices surged $60 as market expectations for a Fed rate hike in September collapsed instantly.

At 20:30 Beijing time on Friday, August 7, the U.S. Bureau of Labor Statistics released the July nonfarm payroll data. The report showed that nonfarm payrolls declined by 23,000 in July after seasonal adjustment, significantly below market expectations of an increase of 80,000. Data for May and June were collectively revised downward by 103,000. The unemployment rate edged down slightly to 4.1%, the lowest level since June 2025, while average hourly earnings rose 3.2% year-over-year, below the expected 3.5%. Prior to the release, markets widely anticipated that employment would continue to expand modestly, and Federal Reserve officials had been primarily focused on inflation risks, with some members hinting that they might act if price conditions did not improve.

FX678 FinanceAug 7 20:45