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USD/JPY still reversing earlier losses as US jobs report draws closer
The USD/JPY will once again be front and centre in terms of any immediate reactions to the US monthly jobs report. As noted here earlier, the USD/JPY came pretty close to the August 5 low, at 141.70, when it based out at 142.06. Well, since then the dollar has been pushing higher and grinding its way closer to the 143 handle. That move has undermined the EUR/USD and that has edged back towards 1.1100. The move higher in the USD/JPY has also come as the European stock markets lift again from earlier lows, but all remain in negative territory. Perhaps and more importantly in terms of the USD/JPY, the US stock futures are not yet following the European markets higher at this stage. The USD/JPY is currently trading at 142.89
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