Analyst Davison Santana said the dollar weakened after US nonfarm payrolls surprised, lowering the likelihood that Japanese authorities will intervene as the yen has moved further from multi-year lows. Earlier the yen briefly spiked, prompting market speculation about intervention by Japan’s Ministry of Finance and causing yen short positions to adopt a more defensive stance.

2026-07-02

Analyst Davison Santana said the dollar weakened after US nonfarm payrolls surprised, lowering the likelihood that Japanese authorities will intervene as the yen has moved further from multi-year lows. Earlier the yen briefly spiked, prompting market speculation about intervention by Japan’s Ministry of Finance and causing yen short positions to adopt a more defensive stance.