FX.co ★ Japanese Yen Steadies Ahead of More US Jobs Data

The Japanese yen steadied around 143.9 per dollar on Wednesday, following a nearly 1% dip in the previous session, as a retreat in the US dollar aided in stabilizing the currency. Market participants remained cautious, with a keen eye on the impending US labor market reports that could potentially influence the Federal Reserve's policy decisions. Simultaneously, Bank of Japan Governor Kazuo Ueda reiterated on Tuesday that the central bank is prepared to increase interest rates once more, should economic and inflation projections justify such a move, thereby reinforcing expectations of a gradual and measured approach to policy normalization. Ueda highlighted that Japan's economy is undergoing a moderate recovery, bolstered by robust corporate earnings and strong business sentiment, despite some areas of weakness. Investors now turn their attention to the labor market and household spending data scheduled for release later this week, seeking further insights into Japan's economic outlook.