USD/JPY recovers from non-farm payrolls drop
The USD/JPY currency pair fell after the US July non-farm payrolls report showed a loss of 23K jobs, compared to the expected gain of 80K.
The report’s poor headline number was largely due to a huge drop in government jobs.
The pair has since recovered, with all eyes now on the US CPI report for July.
The unemployment rate ticked lower, but wage pressures cooled, leading to markets pulling back on Fed pricing for September.