Dollar-yen initially rose after the U.S. Labor Department’s August employment report but reversed sharply as yen appreciation pressure persisted. At 22:00 on the 4th, the pair traded at 155.68 yen, about 65 pips (small foreign-exchange price units) below its 20:00 level of 156.33 yen. Nonfarm payrolls increased by 162,000 month-over-month, well above the 55,000 market consensus, lifting dollar-yen briefly to 156.75 yen before the pair fell toward 155.36 yen and approached the early Tokyo low of 155.30 yen. EUR/USD also weakened to $1.1601 from $1.1621, while GBP/USD reached $1.3483 and AUD/USD fell to $0.7175. The U.S. 10-year Treasury yield briefly climbed to the 4.81% range. EUR/JPY declined to 180.61 yen from 181.66 yen and touched 180.23 yen. The report showed unemployment unchanged at 4.1%, upward revisions totaling 55,000 for June and July, average hourly earnings up 0.3% month-over-month and 3.1% year-over-year, labor-force participation at 61.6%, and underemployment at 7.7%. The data may influence expectations for the Federal Reserve’s future rate-cut pace, while position adjustments ahead of the U.S. three-day weekend also weighed on trading.