In the New York foreign exchange market on September 4, dollar-yen rose to ¥156.75 before falling to ¥155.34 to close. Expectations for a rate hike resurfaced following the US August employment report, while the yen moved amid expectations of a Bank of Japan rate hike and concerns about intervention.
In the New York foreign exchange market on the 4th, dollar-yen rose to ¥156.75 before falling to ¥155.34 to close. Against a backdrop of improving US employment indicators, expectations for a US rate hike strengthened.
The yen's tone was supported by expectations for a Bank of Japan rate hike and concerns about intervention to correct yen weakness, and yen buying was also seen.
Among the major currencies, euro-dollar temporarily fell from $1.1627 to $1.1585 before rising again to close. Euro-yen fell from ¥181.64 to ¥180.23 before rising again to ¥181.43, influenced by expectations that the Japan-Europe interest-rate differential would narrow.
Pound-dollar fell from $1.3536 to $1.3483, while dollar-Swiss franc rose from CHF0.8083 to CHF0.8126. The US August unemployment rate was reported at 4.1%, nonfarm payrolls at +162,000, and average hourly earnings up 0.3% month on month.