The yen consolidates against the dollar and other currencies ahead of the U.S. nonfarm payrolls report due today. This report "poses upside risks to USD/JPY," two members of CBA's Global Economic & Markets Research say in a research report. "Another upside surprise in payrolls will likely encourage markets to further reassess up the outlook for U.S. interest rates," the members say. This could push the dollar up toward 165 yen and test Japanese authorities' resolve to defend the yen, the members add. The U.S. dollar is flat at Y162.55, while the Australian dollar edges 0.1% lower to Y111.92, LSEG data show. (ronnie.harui@wsj.com)