US DOLLAR PUSH YEN FALL TODAY

The US dollar was in a solid position in the trading session Monday (10 / Jul) this afternoon. The impact of US Employment data over the weekend turned out to be higher than expectations; Pointing to the Fed's chance to keep its monetary policy tightening plans this year underway.
The growth in the US employment sector in June, accompanied by increased hours of work from the company to employees, could provide the basis for the Fed to keep its three-year interest rate hike plan. In fact, the US central bank could also initiate a reduction in the balance sheet even if the wage earning is weak and inflation is starting to get off the hook.

USD / JPY is trading at 114.271 this afternoon, up from 114.16 in the previous trading session. The level is higher than the 114.21 level achieved since May 11. The Dollar Index, which measures the strength of the US Dollar against major currencies, is steady at 96.012.

The Fed Can Increase Interest Rates
"The solid report gives us a reason that the Fed will probably stick to their plans to announce the start of the balance sheet cuts," said Mitsuo Imaizumi, chief Forex Expert at Daiwa Securities. "On the contrary, the Bank of Japan (BoJ) is getting away from the loose monetary policy exit, and is taking steps to weaken the yen."
For example on Friday, Yen fell after BoJ boosted JGBs purchase. The BoJ raised Japanese government bond purchases (JGBs) in its open market operations. This is done BoJ with the aim to stem the rise in bond yields.
Meanwhile, the US NFP reportedly climbed as much as 222,000 in June, exceeding expectations of the expected 175,000 rise, and better than the May's revised NFP rose 138,000 to 152,000. The US unemployment rate edged up 0.1 percent from 4.3 percent - a 16-year low - to 4.4 percent as a result of a surge in new job seekers, mostly from a young age.
According to Sue Trinh, Forex expert from Asia FX strategy at Royal Bank of Canada, Hong Kong, if the current strengthening Dollar topic still dominates, then it is certain that volatility will be very low. Thus, he said, as quoted by Reuters.