The Loonie (CAD) posts solid gains versus the Japanese Yen (JPY) on Friday after an upbeat Canadian jobs report sparked speculations the Bank of Canad
weighed on the Yen’s safe-haven status. At the time of writing, the CAD/JPY exchanges hands at 108.38, up 0.72% or +77 pips.
Statistics Canada revealed that the Canadian economy created more jobs than foreseen at 15K in August, with 39.9K people adding to the workforce, while the unemployment rate stood at 5.5%. The labor market has remained resilient, even though the Bank of Canada has lifted rates ten times since March 2022.
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