Dollar Soars Amid Robust U.S. Jobs Data and Yen’s Plunge Under New Japanese Prime Minister
The U.S. dollar surged to a one-month high against the yen on Thursday, driven by strong U.S. jobs data and a decisive shift in Japan’s economic stance. The robust performance of the U.S. labor market has bolstered the notion that the Federal Reserve may not need to cut interest rates aggressively, while the yen weakened sharply following remarks from Japan’s new Prime Minister, Shigeru Ishiba, suggesting the country is not prepared for further rate hikes.
