USD/JPY Consolidates Gains Ahead of Key US Jobs Report
The USD/JPY pair is consolidating its gains from last week's intervention, trading around mid-158.00s as investors wait for the US Nonfarm Payrolls (NFP) report.
The NFP will influence market expectations about the US Federal Reserve's future policy path and drive demand for the dollar.
Persistent geopolitical risks, inflation risks from rebounding oil prices, and Fed rate hike bets are supporting the safe-haven buck.