US dollar rises against yen as markets eye Iran deal and jobs report
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The US dollar rose against the Japanese yen on Thursday, helped by safe-haven positioning as investors awaited details on a proposed deal to end the Iran conflict and the upcoming monthly US jobs report. The dollar was last up 0.41% against the yen at 158.41, on track for its third straight session of gains after weakening to as low as 155.20 on Monday, its lowest level since early May. The euro was down about 0.29% at $1.1519 and sterling fell 0.12% at $1.3454. Markets remained watchful as tensions continued in the Gulf, with Reuters reporting a proposed deal between Iran and Oman that could give Tehran control over inbound traffic through the Strait of Hormuz, though there was no immediate US comment. Investors are turning their attention to Friday's US employment report for July, which could provide more clues on the Federal Reserve's interest rate path, with nonfarm payrolls expected to have risen by 80,000 last month after an increase of 57,000 in June and the unemployment rate forecast to hold steady at 4.2%.
