Investing.com - The dollar was higher against the yen on Monday as the greenback found support ahead of Tuesday’s U.S. jobs report for September and speculation over whether the Federal Reserve will delay plans to taper stimulus continued.
During U.S. morning trade, the dollar pushed higher against the yen, with USD/JPY rising 0.35% to 98.12.
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.
However, the greenback’s gains were held in check as concerns over the impact of the 16-day government shutdown on the U.S. economic recovery fuelled expectations that the Fed may postpone plans for reducing its asset purchase program until at least early next year.
Investors were awaiting 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 0.10% to trade at 1.3671.
The dollar was almost unchanged against the pound and the Swiss franc, with GBP/USD dipping 0.05% to 1.6159 and USD/CHF inching up 0.04% to 0.9022.
The greenback was steady to higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD slipping 0.06% to 0.9668, NZD/USD dropping 0.43% to 0.8469 and USD/CAD inching up 0.01% to 1.0292.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.10% to 79.76.
The dollar showed little reaction after a report from the National Association of Realtors showed that U.S. existing home sales fell more-than-expected in September.
During U.S. morning trade, the dollar pushed higher against the yen, with USD/JPY rising 0.35% to 98.12.
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.
However, the greenback’s gains were held in check as concerns over the impact of the 16-day government shutdown on the U.S. economic recovery fuelled expectations that the Fed may postpone plans for reducing its asset purchase program until at least early next year.
Investors were awaiting 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 0.10% to trade at 1.3671.
The dollar was almost unchanged against the pound and the Swiss franc, with GBP/USD dipping 0.05% to 1.6159 and USD/CHF inching up 0.04% to 0.9022.
The greenback was steady to higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD slipping 0.06% to 0.9668, NZD/USD dropping 0.43% to 0.8469 and USD/CAD inching up 0.01% to 1.0292.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.10% to 79.76.
The dollar showed little reaction after a report from the National Association of Realtors showed that U.S. existing home sales fell more-than-expected in September.