Japan March Unemployment rate 2.7% (vs. expected 2.6%, prior 2.6%)

Japan's March jobs data showed a slightly softer labor market: unemployment rose to 2.7% versus expectations of 2.6% (prior 2.6), while the job-to-applicant ratio slipped to 1.18 (expected 1.19). The weaker-than-expected figures reduce near-term pressure on the BOJ to tighten policy and may weigh on the yen, potentially supporting USD/JPY. The note also references market expectations that the BOJ will hold rates steady amid external risks (e.g., the Iran conflict). Overall, the release is modestly yen-negative but not dramatic — a datapoint that could nudge FX positioning rather than trigger a large directional move on its own.