Yen climbs above 130 for the first time in two week, adds 2.9% USDJPY JPY $USDJPY $JPY
wards its two-decade high this week. The USD/JPY gained 3.1% in five trading sessions from Monday’s open at 127.01 to 130.96 in Friday morning New York trading.
Data releases were dominated by the US payroll report on Friday and its impact on Federal Reserve policy. The US economy added 390,000 workers to the official job rolls in May, better than the 325,00 forecast and more than sufficient to keep Fed tightening policy in place. Wage increases for the year at 5.2% were as forecast and likely to widen the decline in consumer purchasing power when CPI is reported this coming Friday.
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