U.S. dollar steadies as yen hovers near 40‑year low

The U.S. dollar steadied near a two‑week low on July 6 after a softer‑than‑expected June jobs report reduced market expectations of a Federal Reserve rate hike this year. The payroll data showed employers added only 57,000 jobs, well below forecasts, prompting investors to await the Fed’s June‑meeting minutes for further guidance.

The Japanese yen remained pinned near a 40‑year low, trading around 162 per dollar, close to the 1986 trough of 162.84. Traders are watching for possible Japanese‑government intervention, though analysts doubt any action would change the longer‑term trajectory. The South Korean won also firmed, trading at roughly 1,534 per dollar during the first day of 24‑hour on‑shore spot dollar‑won trading.

Weaker oil prices and the weakened jobs outlook eased inflation concerns, supporting the dollar’s modest recovery while keeping the yen under pressure.