US non-farm payrolls rose by 57K in June, missing expectations of 110K and weighing on the dollar.
USD/JPY fell around 50 pips to 160.80-20 levels after US June non-farm payrolls grew by 57K, below the 110K forecast. The dollar weakened broadly, extending losses in European trading as markets digested the softer jobs report.
The pair had recovered to 161.50 overnight before the data release but faced renewed selling pressure. Analysts now eye the 160.00 level as critical support, testing whether dip buyers will re-enter the market.
Other major currencies gained against the dollar, with EUR/USD rising 0.2% to 1.1459 and AUD/USD up 0.4% to 0.6948. GBP/USD climbed 0.2% to 1.3375, holding near two-week highs.