Dollar Weakens as Yen Holds Gains Amid Suspected Intervention

The US dollar index has come under pressure ahead of the release of the crucial US jobs report. The index, which measures the dollar against six major currencies, declined by 0.04% to 99.56 points.

In contrast, the Japanese yen held its gains after a sudden and brief surge in the previous session that traders suspect may have been driven by government authorities.

The yen was last steady at 158.88 per dollar, having jumped 0.9% overnight, leaving market participants on alert for an official intervention from Tokyo.