USD/JPY Clears 160 for Third Session on Strong US Payrolls

USD/JPY has remained above the critical 160 level for a third straight session through June 5, extending gains fueled by safe-haven dollar demand amid Gulf geopolitical tensions and robust US jobs data. The pair first breached 160 on June 3, reviving intervention warnings after Tokyo’s prior ¥11.7 trillion defense, with higher oil prices adding pressure on the yen. Strong May nonfarm payrolls (+172k) lifted US yields above 4.5%, reinforcing Fed patience and dollar strength while Prime Minister Takaichi pledged support measures to offset yen weakness.