The
dollar and euro edged up against the yen in Asia on Monday as
confidence was boosted upbeat US jobs data that suggested a recovery in
the world's number one economy is well on track.
The greenback changed hands at 102.52 yen in Tokyo midday trade against 102.50 yen in New York Friday.
The euro was slightly higher at $1.3644 and 139.88 yen against $1.3641 and 139.80 yen.
Investors tend to sell the yen and move into riskier assets such as the dollar and euro as sentiment improves.
On
Friday the Labor Department said US employers created more than 200,000
jobs for the fourth straight month in May, showing the market was
steadily improving.
That
came a day after the European Central Bank unveiled a fresh batch of
monetary easing measures to fight off deflation risks and kickstart the
eurozone economy.
Investors
reacted little to revised data Monday that confirmed the Japanese
economy saw its strongest expansion in more than two years during the
first quarter of 2013.
The
world's number-three economy grew 1.6 percent between January and
March, slightly faster than an initial estimate of 1.5 percent.
But
the strong figures reflected a rush in consumer spending before an
April 1 sales tax hike which has since dented activity in the world's
number three economy.
Source : AFP
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