The yen has had a rough first week of 2024. (Photo by Mizuho Miyazaki)
NEW YORK — The yen yo-yoed Friday, dropping against the dollar after a stronger-than-expected U.S. jobs report before regaining ground on a service industry survey that suggested the world’s largest economy was cooling off.
From about 145 yen to the dollar, the Japanese currency weakened to a roughly three-week low of more than 145.8 yen right after U.S. jobs data shook market confidence in an early start to Federal Reserve interest rate cuts.
