The Japanese yen's modest recovery against the dollar appears more consistent with profit-taking and caution about foreign exchange interventions as opposed to outright action to support the currency, Capital.com's Daniela Hathorn says in a note. "While [Japan's] officials have continued to warn they stand ready to respond to excessive currency moves, today's decline lacks the abrupt, disorderly price action that has typically characterised previous interventions." Instead traders are reducing bets on a stronger dollar after its rise became stretched. Volatility could remain elevated on intervention risks but the broader trend favors dollar strength, she says. The dollar falls more than 1% to a two-week low of 160.62 yen after weaker-than-expected U.S. jobs data, LSEG data show. The dollar hit a 40-year high of 162.83 Wednesday. (renae.dyer@wsj.com)