Japanese Yen Steadies Ahead of More US Jobs Data
The Japanese yen held steady around 143.9 per dollar on Wednesday, following a nearly 1% decline in the previous session, as a pullback in the US dollar helped stabilize the currency. Traders remained cautiously ahead of key US labor market reports that could influence the Federal Reserve's policy stance.
Meanwhile, Bank of Japan Governor Kazuo Ueda reiterated on Tuesday the central bank's willingness to raise interest rates again if economic and inflation forecasts are met, reinforcing expectations of a slow and measured policy normalization. Ueda also noted that Japan's economy is in a moderate recovery phase, supported by strong corporate earnings and solid business sentiment, although some pockets of weakness persist. Investors now await upcoming labor market and household spending data due later this week for further clues on the domestic economic outlook.
Source: Trading Economics
