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USD/JPY around 99.50 as U.S. Dollar remains Choppy

The yen clung onto broad overnight gains in Asia on Friday as investors unwound bearish positions particularly against the Australian dollar, which suffered a major setback in the wake of disappointing jobs data at home.

Trading in New York, however, was choppy with markets at first favoring the U.S. dollar as investors reacted to headlines showing a steep drop in new claims for jobless benefits last week.

But the greenback then went into reverse gear after the Labor Department attributed much of the decline in benefit claims to computer problems in two states.

CNBC [1]

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