USD/JPY climbs from two-week trough

Economies.com
2020-04-03 06:09AM UTC

USD/JPY tilted higher in Asian trade off March 18 lows on track for weekly gains, amid a lack of data from Japan and ahead of US labor data. 

 

As of 06:02 GMT, USD/JPY rose 0.01% to 107.92, with a session-high at 108.20. 

 

Japan's PM Shinzo Abe announced a decision to put all incoming travelers under 14 days of quarantine, including Japanese people coming from abroad, while banning entry to visitors from 49 countries. 

 

The government doesn't see a need yet to impose emergency state, while supporting employment and economic stability. 

 

From the US, the payrolls report is expected to show the economy lost 100,000 jobs in March, while average earnings are expected up 0.2%, as the unemployment rate is expected up to 3.8% from five-decade lows at 3.5%. 

 

US services PMI is expected down 38.7 from 39.1, showing an extreme contraction in the sector amid the coronavirus outbreak. 

 

The World Health Organization reported over 900,000 cases infected with Covid 19, with 45,693 dead in 205 countries and territories. 

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