In the trading week ended September 8th, currency markets saw rapid dollar sell-offs following tepid results in the U.S. jobs report for August. Weakness in the U.S. labor market was highlighted by lower-than-expected nonfarm payrolls (NFP) and downward revisions to June and July data.

In the trading week ended September 1, the weakening trend of the dollar paused, and dollar buying regained momentum.

Currency markets in the trading week ended August 25th saw the dollar weaken against the yen, with the USDJPY oscillating as it tracked a downward path.

In the trading week ended August 18, yen bears were the predominant force, the markets were primarily moved by economic indicators out of the United States.

In the trading week ended August 11, the USDJPY pair demonstrated dramatic price fluctuations.

In the week ended August 4, yen bulls gained momentum to push the USDJPY sharply down to hit new lows. At the Bank of Japan's monetary policy meeting on Wednesday, July 31, the policy rate was raised to 0.25% and the BOJ announced a plan to reduce future government bond purchases, as had been expected beforehand.

The currency exchange trading week ended July 28 was marked by a clear momentum toward an appreciating yen. This was evidenced by the USDJPY falling below 152, and the yen crosses, such as the EURJPY and GBPJPY, also moving into a state of general decline.

Currency markets in the week ended July 21 were notable in the relative weakness of the dollar, with the USDJPY temporarily falling below 156. Let's review the market movements through the week.

In the week ended July 14, the biggest highlight was by far the crashes from Thursday's release of the U.S. Consumer Price Index (CPI). The USDJPY, and other yen crosses, went into general collapse. With the weaker dollar, the EURUSD and GBPUSD also marked fresh highs.

During the week ended July 7, currency trades were marked by fresh highs: the USDJPY hit a 37-year high of 161.95 mid-week, while the EURUSD and GBPUSD also reached highs at about the same time. However, the USDJPY would then fall from that high, with the EURUSD and GBPUSD entering a nearly unbroken bullish streak to finish the week.

In the week ended June 30, the USDJPY broke beyond previous highs just above 160 on Wednesday, climbing to above 161. Though the pair retraced in the following two days, it managed to close the week above the former high of 160.21 regardless.

The USDJPY closed up seven straight days, with Thursday's and Friday's gains putting the pair just within reach of 160. It appears that this past week has carried forward the undertone from the previous week of trading, where dollar bulls gained ground from a reduced FOMC member expectation to only one rate cut within 2024, and where yen bears added momentum when a reduction in JGB purchases was postponed at the BOJ's monetary policy meeting.

Stop-and-go action was the theme for the USDJPY pair this week, while the EURUSD and GBPUSD pairs were in a bearish trend.

In the week ending June 9, the USDJPY dropped from above 157 to below 155 in the first half of the week, driven down by weak U.S. economic indicator releases. However, price movements stabilized mid-week, and the USDJPY temporarily returned to above 157 after a stronger-than-expected U.S. jobs report released on Friday.

In the week ending June 2, overall currency trends included a strengthening dollar and yen, with the USDJPY in a short downward retrace after exceeding 157.5. The EURUSD was mostly aimless, trending between 1.08 and 1.09. Meanwhile, the GBPUSD reversed its climb after reaching just below 1.28.

Currency exchange markets in the past week have been characterized by a strengthening dollar. The only high-profile economic data release during the week was the number of new home sales in the U.S.; however, there were several comments from monetary officials suggesting caution against a rate cut before the end of the year.

Currency markets in the past week were sharp and well-defined in their movements. Influenced by data releases such as the U.S. wholesale pricing index (PPI) and Consumer Price Index (CPI), the USDJPY fell from above 156 to below 154 in the span from May 15 to May 16, but has since rebounded.

The currency market in the past week has been characterized by a gradually strengthening yen. In the preceding week, ended May 5, the USDJPY fell to approach 151 due to the Bank of Japan's currency intervention and poor U.S. employment data.

In the past week, the USDJPY plunged from a high around 160 to as far as below 152 due to sharp yen buying that appeared to be the result of multiple currency interventions.

The currency market in the past week has been characterized by an overwhelmingly weakening yen.