Volatilities implied by one-month, at-the-money USD/JPY options are down slightly at 6.67%/6.97% from 6.66%/7.04% in New York Wednesday due to growing expectations that Friday's U.S. jobs data may beat consensus after the ADP data overnight turned out to be stronger than expected, says a senior dealer at a major bank in Tokyo. But trading was subdued overall as investors are not willing to make bets before Friday's data outcome.
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