Yen and dollar trade cautiously ahead of Iran deal and US jobs

Currency markets moved cautiously as investors awaited a possible agreement between Iran and the United States, along with U.S. employment data that could influence the direction of interest rates in the United States. The yen stabilized at 157.71 against the dollar after dropping from its recent high of 155.20, but it remains well above the lowest level recorded last month at 164. Other major currencies, such as the euro and British pound, remained unchanged, and the dollar index continued near its six-week lows. Markets are expecting tomorrow's employment report to be a key indicator of the Federal Reserve's interest rate policy, amid ongoing concerns about inflation and Japan's repeated interventions to stop the yen's decline. The yen has struggled to maintain gains after Japan's rate hikes and expectations of further increases.

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