Japan's yen surged more than 1% against the dollar after an economic report showed fragility in the US labor market, boosting the case for the Federal Reserve to cut interest rates. The yen strengthened while the dollar held on to its weakness as investors prepared for the Federal Reserve's interest-rate cut later this month following another set of weak US jobs data. Stocks, bonds, and major currencies held to tight ranges on Friday as traders prepared for US jobs data that will help determine the size of a Federal Reserve rate cut later this month. Currency strategists see a strong chance of the yen testing its August high versus the dollar later on Friday if payrolls data boost bets for a jumbo rate cut by the Federal Reserve this month. The rupee inches up on hopes of a weak US jobs report.
Rupee inches up on hopes of weak US jobs report https://t.co/vFiBbg7mpK https://t.co/ihb2II7QuI
Currency strategists see a strong chance of the yen testing its August high versus the dollar later on Friday if payrolls data boost bets for a jumbo rate cut by the Federal Reserve this month https://t.co/cPz5myYjRY
Currency strategists see a strong chance of the yen testing its August high versus the dollar later on Friday if payrolls data boost bets for a jumbo rate cut by the Federal Reserve this month https://t.co/Z4lavdKPlX