Investing.com - The dollar firmed up against the other major currencies on Monday after falling sharply late last week amid fears that the economic impact of the U.S. government shutdown would prompt the Federal Reserve to keep its stimulus program in place for longer.
During European afternoon trade, the dollar pushed higher against the yen, with USD/JPY rising 0.44% to 98.22.
The yen slid after data released on Monday showed that Japan posted a trade deficit of JPY932.1 billion in September, as export growth slowed. It was the 15th consecutive monthly deficit, the longest run on record.
The dollar received an additional boost after Bank of Japan Governor Haruhiko Kuroda reiterated Monday that the bank would stick to its stimulus program and added that the economy was on track to reach the bank's 2% inflation target.
Investors remained cautious ahead of U.S. data releases later in the week after the shutdown delayed the release of some key economic reports. The September nonfarm payrolls report, which had been originally scheduled for release on October 4, was due on Tuesday.
Elsewhere, the euro slipped lower against the dollar, with EUR/USD edging down 0.16% to trade at 1.3661.
The dollar was also slightly higher against the pound, with GBP/USD down 0.18% to 1.6137.
The dollar extended gains against the Swiss franc, with USD/CHF up 0.25% to 0.9041.
The greenback was broadly higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD losing 0.19% to trade at 0.9657, NZD/USD dropping 0.70% to 0.8446 and USD/CAD inching up 0.02% to 1.0293.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.18% to 79.84.
The U.S. was to release private sector data on existing home sales later Monday.
During European afternoon trade, the dollar pushed higher against the yen, with USD/JPY rising 0.44% to 98.22.
The yen slid after data released on Monday showed that Japan posted a trade deficit of JPY932.1 billion in September, as export growth slowed. It was the 15th consecutive monthly deficit, the longest run on record.
The dollar received an additional boost after Bank of Japan Governor Haruhiko Kuroda reiterated Monday that the bank would stick to its stimulus program and added that the economy was on track to reach the bank's 2% inflation target.
Investors remained cautious ahead of U.S. data releases later in the week after the shutdown delayed the release of some key economic reports. The September nonfarm payrolls report, which had been originally scheduled for release on October 4, was due on Tuesday.
Elsewhere, the euro slipped lower against the dollar, with EUR/USD edging down 0.16% to trade at 1.3661.
The dollar was also slightly higher against the pound, with GBP/USD down 0.18% to 1.6137.
The dollar extended gains against the Swiss franc, with USD/CHF up 0.25% to 0.9041.
The greenback was broadly higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD losing 0.19% to trade at 0.9657, NZD/USD dropping 0.70% to 0.8446 and USD/CAD inching up 0.02% to 1.0293.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.18% to 79.84.
The U.S. was to release private sector data on existing home sales later Monday.