Investing.com - The dollar moved higher against the yen on Tuesday, regaining some of the ground lost in the two previous sessions after the latest U.S. nonfarm payrolls report came in well below expectations.
USD/JPY was up 0.41% to 103.41 during late Asian trade, after falling to lows of 102.84 on Monday, the weakest since December 18.
The pair was likely to find support at 103.00 and resistance at 104.12, Monday’s high.
Friday’s data showing that the U.S. economy added far fewer jobs than expected in December cast doubts over the strength of the recovery in the labor market, and fuelled expectations that the Federal Reserve will maintain loose monetary policy for longer.
In Japan, data released on Tuesday showed that the country’s current account deficit rose to a record JPY593 billion in November, up from a deficit of JPY128 billion the previous month, with the weaker yen driving up import prices. The yen showed little reaction after the data.
The euro was also higher against the yen, with EUR/JPY rising 0.31% to 141.21, recovering from Monday’s one-month lows of 140.48.
Elsewhere, the euro slipped lower against the dollar, with EUR/USD sliding 0.13% to 1.3654.