Yen poised for best week in over a year; dollar waits on US jobs data

FILE PHOTO: Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/Illustration/File PhotoSINGAPORE : The yen was headed for its best week in more than a year on Friday, helped by Tokyo's suspected intervention this week to pull the Japanese currency away from 34-year lows, which also left the dollar broadly on the back foot.

Japan's latest forays into the currency market came during periods of thin liquidity, with the country out for a holiday on Monday while the second attempt happened late on Wednesday after Wall Street had closed. Elsewhere, the dollar lost ground against most of its peers and was headed for its worst week in nearly two months, in part due to the sharp rise in the yen this week.

The euro ticked up 0.05 per cent to last trade at $1.0730, and was eyeing a weekly gain of 0.35 per cent. Sterling steadied at $1.25365 and was similarly set to rise more than 0.3 per cent for the week.

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