USDJPY Weekly Forecast: A week of surprises and the US economy counterpunches The BOE and the ECB forged ahead in the rate competition this week, dragging currencies with them against the dollar.
in the US delivered the biggest jolt on Friday when January showed a gain of 467,000 well ahead of the 150,000 estimate. Market expectations had tilted to the negative after ADP reported a 301,000 loss and Initial Jobless Claims had shown a steady rise of the last five weeks.
The USD/JPY climbed more than 40 points at the NFP release to resistance at 115.35 which has been the functional top since January 11. Treasury rates are cleared to rise further as the Fed should cheer the inflation help from higher commercial and government yields. The
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