The US dollar remained pinned near six-week lows on Thursday as currency markets drifted amid growing concerns over a proposed US-Iran deal and anticipation of upcoming US payroll data.
The greenback’s weakness persisted despite the broader market uncertainty, reflecting trader caution ahead of the critical labor report.
The Japanese yen struggled to retain gains from recent intervention efforts, continuing its volatile trajectory.
While authorities have moved to support the currency, market forces kept the yen under pressure, highlighting the ongoing tension between policy intervention and market sentiment.
Geopolitical risks also played a role in the session’s dynamics.
Concerns about a potential diplomatic resolution between the US and Iran introduced uncertainty into risk assets and currency flows.