U.S. job growth in June fell short of expectations, dampening market expectations for a rate hike this year and pushing the dollar lower to 160.64 yen and 1.1473 dollars.

[London Market Overview] On the London foreign exchange market on the 2nd, the dollar-yen pair remained firm. The dollar weakened into the afternoon, briefly dipping to ¥161.48. However, ahead of the U.S. employment report, speculation about a more hawkish policy stance caused dollar selling to ease, and the pair rebounded to ¥161.48. The euro-dollar pair lost momentum amid continued dollar-buying sentiment, declining from $1.1421 to $1.1404. The euro-yen pair followed the dollar-yen movement, falling from ¥184.21 to ¥183.75 before stabilizing.

Fisco Japan17:11 ET

U.S. equity markets were mixed, as concerns over interest rate hikes eased (2nd).

U.S. stock markets were mixed. The Dow Jones Industrial Average closed up $594.83 at 52,900.07, while the Nasdaq ended down 207.36 points at 25,832.67. Following the release of employment data, inflation concerns eased further, sending stocks higher in early trading. Easing worries about interest-rate hikes, coupled with inflows of investment capital at the start of the new quarter, helped the Dow remain firm throughout the session, hitting fresh record highs for a second straight day. Sector rotation was pronounced, with the Nasdaq turning lower and trading softly for much of the day, leaving the market broadly unchanged.

Fisco Japan16:54 ET

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