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USD/JPY extends gains above 148 following blowout US jobs report
Following on from the previous update, noting the blowout US jobs report, the USD/JPY has now extended its sharp rise above the 148 handle. The US stock markets have initially liked this news so far, but it is not certain the gains will last- we shall see. Meantime, there is no holding back the dollar on this news and just now the USD/JPY reached a high around 148.50, that is some 200 pips in almost a straight line compared to where it was ahead of the release. The USD/JPY is backing away slightly, but it seems the markets have been caught offside with such a strong jobs report last month. The USD/JPY is currently trading at 148.22
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