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Dollar increases, yen near 40-year low
The Japanese yen retreated to its lowest levels in 40 years, reaching approximately 162.3 yen against the dollar, amid expectations that the Japanese government may intervene to support the currency. At the same time, the dollar remained steady after a weak U.S. employment report diminished the likelihood of the Federal Reserve raising interest rates. The U.S. economy added 57,000 jobs in June, a figure below expectations, which reinforced expectations of no interest rate hikes for the time being. Investors are now closely watching the upcoming Federal Reserve meeting minutes for future signals regarding interest rates.
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