The post USD/JPY climbing back into 145.00, clawing back losses after tumble from 147.00 appeared on BitcoinEthereumNews.com.

The USD/JPY is paring back some of Thursday’s losses, climbing back into the 145.00 handle. The US Dollar is fighting back after a steep decline sparked by a hawkish BoJ. US NFP figures beat expectations, keeping the Greenback bid through Friday market action. The USD/JPY is back on the rebound for Friday after posting an extreme backslide on Thursday, climbing four-tenths of a percent from the day’s opening bids and looking to pare back losses. The US Dollar (USD) traded flat against the Japanese Yen (JPY) through the early half of the trading week before getting knocked back after the Yen caught a broad-market rally on the back of unusually hawkish comments from Bank of Japan (BoJ) Governor Kazuo Ueda. Friday sees the Greenback attempting to claw back chart paper, rising back into the 145.00 handle after a brief dip back into 142.50 at the start of the final trading session of the week. US Nonfarm Payrolls (NFP) broadly beat the street on Friday, posting a net gain of 199K jobs through November versus the forecast 180K, and climbing over October’s net jobs gain of 150K. Broader markets have been ramping up bets of an accelerated path towards rate cuts from the Federal Reserve (Fed), with many market participants expecting the first rate cut from the Fed by as early as next March. A still-tight US labor market continuing to add more jobs than expected throws a small wrench in the works, bolstered by accelerating Average Hourly Earnings in November, which came in at 0.4% MoM compared to the forecast 0.3%. Worker earnings appear to be gaining in the near term after October printed 0.2% MoM. Read More: US Nonfarm Payrolls increase by 199,000 in November Despite the Dollar-positive NFP release, the USD/JPY remains deep in the red for the trading week…

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Filed under: News - @ December 8, 2023 11:18 pm