The yen erased Friday's pump as the market's focus returned to the U.S.-Japan interest rate differential

Sina Financial News The Japanese yen expanded fall today, giving up the strong pump recorded on Friday, and traders turned their focus back to the outlook for the Japanese Intrerest Rate. The Japanese yen fall fell as much as 0.61% to 154.01 per dollar during Monday’s Asian session, after rising as much as 1.2% pump the previous session, when unexpected weakness in U.S. employment and wage rise last month prompted traders to advance expectations for the Federal Reserve’s interest rate cuts. Alvin Tan, head of Asian forex strategy at RBC Capital Markets in Singapore, said USDJPY could move higher and retest 160 given the wide US-Japan interest rate differential, “if it is true that US intrerest rates do not continue to fall from current levels, then the impact of the intervention will dissipate quickly.” ”