On Monday (October 10), the Asian market maintained its oscillatory trend in early trading. Currently, it traded around 76.80. It was affected by the non-agricultural employment data of the United States last week. The USD/JPY rose rapidly from 76.60 to 76.85. Nearby, but due to the market sentiment is still unstable, which makes the yen remained at a high level of shock.

The Labor Department announced on Friday that the number of non-farm payrolls in the United States rose by 103,000 in September. The number of new non-farm payrolls in the previous two months has also been revised upwards, adding a total of 99,900 to the initial value. Market sentiment was boosted, resulting in pressure on the yen for safe-haven assets.

However, as the global economy is still weak, in addition, the risk of proliferation of the European debt crisis continues to increase. On the previous Friday, Fitch downgraded the sovereign credit ratings of Spain and Italy. The purpose was to include the Belgian local currency and foreign currency bond ratings on the negative watch list, and also Europe. The credit ratings of many banks have been lowered, which has played a serious role in suppressing market sentiment, causing the yen to maintain a higher exchange rate.

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