The Japanese yen strengthened slightly against the U.S. dollar amid signs of heavy central bank intervention to tamp down the dollar’s advance.
While a weak yen can be a boon to Japanese companies that earn much of their revenues overseas, significant shifts in the foreign exchange market can play havoc with corporate planning and a sharply weaker yen also boosts costs for imports of oil and other vital commodities. On Friday, the U.S. government will report on how many jobs employers added last month, one of the most highly anticipated economic updates each month.last week than economists expected. It’s the latest signal that the job market remains solid despite high interest rates.
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