Japanese Yen retreats against USD amid some repositioning ahead of US NFP
The Japanese Yen retreats after touching a two-month high against the USD on Friday.
The narrowing US-Japan rate differential should limit losses for the lower-yielding JPY.
Subdued USD price action might cap the USD/JPY pair ahead of the US NFP report.
The Japanese Yen (JPY) sticks to its modest intraday losses against its American counterpart through the early European session on Friday in the wake of cautious remarks from the International Monetary Fund (IMF). The downside for the JPY, however, remains cushioned in the wake of the growing acceptance that the Bank of Japan (BoJ) would keep tightening its policy.
In fact, comments from a senior BoJ official on Thursday suggested the Japanese central bank is maintaining its stance to steadily push up borrowing costs. This will resul...