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Forex - Dollar steady against yen, euro after U.S. jobs report

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Investing.com -

Investing.com - The dollar was little changed against the yen and the euro on Monday after the Friday's nonfarm payrolls report for May indicated that the U.S. labor market is continuing to gradually improve.

USD/JPY was trading at 102.41, not far from Friday's highs of 102.60.

The pair is likely to find support at 102.00 and resistance at 102.78, last Wednesday's high.

The Department of Labor reported Friday that the U.S. economy added 217,000 jobs last month, just under expectations for jobs growth of 218,000, while the unemployment rate remained unchanged at a five-and-a-half year low of 6.3%.

The yen showed little reaction after data on Monday showed that Japan's first quarter gross domestic product was revised up to an annualized rate of 6.7% from a preliminary estimate of 5.9% growth.

The unexpected upward revision was due to higher than expected capital spending, Japan's Cabinet Office said.

A separate report showed that Japan posted a smaller than expected current account surplus in April.

EUR/USD was steady at 1.3649, having recovered from the four-month trough of 1.3502 reached last Thursday when the European Central Bank unveiled a package of measures to avert the threat of persistently low inflation in the euro area.

Elsewhere Monday, EUR/JPY was trading at 139.84, almost unchanged for the day.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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