The US dollar remained defensive on Thursday as US economic data continued to show a slowdown, but the yen did not breathe a sigh of relief and remained suppressed near the 38-year mark, keeping the market vigilant against Japanese intervention. Reports on the US service industry and ADP employment were below expectations, indicating a slowdown in the economy. Rodrigo Catril, a forex strategist at National Australia Bank Limited sponsored ADR, said, "Slowly but surely, we are starting to see a shift in the flow of US economic data," adding, "We believe the US economy is slowing down, with signs of weakness in the labor market, and economic activity and inflationary pressures are easing." Earlier, Japan spent JPY 9.79 trillion ($613.1 billion) to defend the exchange rate. But the situation is not favorable to the yen. Catril said: "The reality is, there is a structural problem that favors a weaker yen." The Bank of Japan will realize interest rate normalization, but the pace will be slow, which will continue to encourage traders to push up the USD/JPY exchange rate.