5 October 2018, 17:31  USD/JPY pair spiks to a fresh session high

The USD/JPY pair spiked to a fresh session high above 114 with the initial reaction to the NFP report from the U.S. but quickly reversed its course. As of writing, the pair was trading at 113.80, losing 0.08% on a daily basis. The monthly report released by the U.S: Bureau of Labor Statistics on Friday revealed that nonfarm employment increased by 134,000 in September to fall short of the market expectation of 185K. Further details of the report showed that the unemployment rate eased to 3.7% from 2.9% in August and August's NFP reading got revised up to 270K from 201K. Finally, the wage inflation, measured by the annual average hourly earnings, ticked down to 2.8% as expected. The US Dollar Index, which stayed relatively quiet during the first half of the day, jumped to a daily high near 96 before turning negative on the day. At the moment, the index is down 0.15% at 95.60. There won't be any other macroeconomic data releases from the U.S. in the remainder of the day and investors will follow FOMC member Bostic's speech for fresh catalysts.

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