The USD/JPY pair fell sharply, starting at 143.87, dropping below 144.00, indicating heightened market anxiety about U.S. job data and potential Fed rate cuts.
Disappointing job data increased expectations for a Federal Reserve interest rate cut, causing U.S. Treasury yields to drop, which negatively impacted the USD/JPY pair.
The decline in risk-sensitive currencies highlights a shift towards safe havens like the yen and Swiss franc, amid growing fears around global economic growth.
Fears of negative performance trends in currency and stock markets in response to unstable economic reports will persist until the Federal Open Market Committee meeting.
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