USD/JPY down to 102 before U.S. Jobs Data

The yen nudged away from a five-year trough on the euro and a six-month low versus the dollar on Thursday, but the moves lacked conviction as investors held their bets ahead of key events, including crucial U.S. jobs data.

The dollar eased 0.1 percent to 102.25 yen, having earlier this week risen as high as 103.38, while the euro slipped 0.2 percent to 138.89, still not too far from a five-year peak of 140.03 scaled on Tuesday.

Traders said the downtrend in the yen remained intact thanks to the Bank of Japan’s ultra-loose monetary policy and expectations that it will provide even more stimulus next year.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.