Soft US Labor Data Halts USD/JPY Gains Near 157.40

The Japanese Yen has continued its gains against the US Dollar in Tuesday's American session, reaching near the 157.40 area.

This comes after softer labor demand data from the United States, which showed vacancies fell to 7.359 million in June from a revised 7.537 million in May, undershooting the 7.4 million consensus.

The weaker US employment data has tempered the message from Monday's robust ISM Manufacturing Purchasing Managers Index and complicates the case for an additional Federal Reserve rate increase, dragging US Treasury yields lower and narrowing the interest rate differential that has underpinned the pair for much of the year.