USD/JPY leans to the downside

By FXStreet FXStreet (Córdoba) – USD/JPY continues to waver near daily lows sub 119.00 after US nonfarm payrolls data failed to provide a strong signal and left investors wondering whether the Federal Reserve will raise rates this month.

Even though the headline came in below expectations (173K vs 220K exp), the unemployment rate dropped to 5.1% from 5.3% in July. Moreover figures suggest more unemployed found jobs in August as the total number of unemployed people fell by 237,000 and the labor force dropped by 41,000.

USD/JPY moved erratically in the minutes that followed the release but then leaned slightly to the downside. At time of writing, the pair is trading at 118.90, recording a 0.97% loss on the day, having printed a low of 118.60.

USD/JPY is on track to post its second weekly loss in a row, unable to fully recover from last week’s selloff triggered by Chinese woes, which sent the pair from 122.00 to near 116.00 in one day.
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Source:: FX Street