Good Friday Asian forex market update: Nonfarm payrolls may become the final straw for the Japanese yen

Golden Ten Data reported on April 3 that Juntaro Morimoto, an analyst at Sony Financial Group, stated that with multiple markets closed for Good Friday and trading volume thin, the USD/JPY exchange rate might reach the 160 level. Morimoto warned, “If the US non-farm payroll data diverges from market consensus expectations, participants should be cautious of sharp price fluctuations that may occur in a low-liquidity environment.” On Friday morning, Japan’s Finance Minister, Kaori Katayama, reiterated her stance of being prepared to intervene in the foreign exchange market to support the yen. She pointed out that exchange rate fluctuations could impact daily life and the economy, and stated: “We have consistently emphasized our readiness to take decisive action and pledged to protect what must be protected.”