USD/JPY held firm in the New York market on the 7th, standing at ¥157.93 at midnight. After initially falling on the US employment data, the pair saw broad-based buying to cover short positions.
USD/JPY held firm in the New York foreign exchange market, standing at ¥157.93 at midnight, approximately ¥0.56 above the ¥157.37 level at 22:00. It fell as low as ¥156.68 after weak US employment data for July, but buying to cover short positions gained the upper hand once the selling subsided.
EUR/USD struggled to advance, standing at 1.1553 at midnight. It traded down approximately 0.0019 from 1.1572 at 22:00, with movements in long-term US Treasury yields weighing on the market.
EUR/JPY stood at ¥182.46 at midnight, up from its level at 22:00. After rebounding from an intraday low of ¥181.33 after 21:30, it recovered to around ¥182.50 at about midnight. It moved in line with USD/JPY.
The Canadian dollar strengthened broadly, against a backdrop of strong Canadian employment data for July. It rose as high as CAD 1.3933 per US dollar and ¥113.33 per Canadian dollar. Reports of progress in interim talks on reciprocal tariff reductions attracted market attention.