USD/JPY falls post-NFP
- The non-farm payroll for the month of April came below expectations at 164K versus 192K forecast by analysts.
- The USD/JPY lost 20 pips in an immediate reaction after the release.
- The average hourly earnings disappointed at 2.6% YoY versus 2.7% forecasted.
The USD/JPY is trading at around 108.85 down 0.33% on Friday as the US non-farm payroll in the US came below market's expectations at 164K against 192K forecasted by analysts. The average hourly disappointed at 2.6% versus 2.7% forecast, sending the USD/JPY lower as traders get rid of USD.
These last weeks, the US dollar benefitted from a strong demand on the back of expectations of policy normalization from the Federal Reserve Bank.
Earlier in the week on Wednesday the FOMC statement revealed that the US inflation was on target, however, the Federal Reserve Bank did not sound as hawkish as expected by market participants as no mention to a rate hike in June was made.
In the last two days, the Japanese yen was slightly boosted for its safe-haven quality as US stocks traded to the downside.