USD/JPY edges lower, focus turns to non-farm payrolls

USD/JPY was down about 0.4 percent at 121.28 yen but above a seven-month low of 116.15 touched a week ago. The dollar began the week under pressure on Monday, on track for monthly losses but off recent lows as investors kept alive hope that U.S. jobs data later this week would give the U.S. Federal Reserve reason to raise interest rates as early as next month.

The main risk to the USD/JPY will be this week’s U.S. non-farm payrolls on Friday. Investors will look for clues as to whether the Federal Reserve will hike rates in September.

EUR/USD was up 0.3 percent at $1.1215, below last week’s high of $1.1715 but still up more than 2 percent for the month.

AUD/USD down at $0.7135, from $0.7175 in New York on Friday. It has lost more than 2 percent this month, partly on heightened concerns about a hard landing for the Chinese economy. The Reserve Bank of Australia (RBA) holds a policy meeting on Tuesday and is considered almost certain to keep rates steady at an all-time low of 2.0 percent.

NZD/USD fell 0.7 percent on the day to $0.6410, weighed down by disappointing economic data released on Monday.

The post USD/JPY edges lower, focus turns to non-farm payrolls appeared first on Forex Circles.

Source:: USD/JPY edges lower, focus turns to non-farm payrolls

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