Investing.com - The dollar slid lower against the yen on Monday, as Friday’s softer-than-expected U.S. nonfarm payrolls report prompted investors to book profits in the greenback after its recent rally.
USD/JPY was down 0.42% to 114.10 from 114.58 late Friday, off the seven year peaks of 115.58 hit ahead of Friday’s jobs report.
The dollar turned lower after data on Friday showed that though employment growth was solid, the U.S. economy added fewer than expected jobs last month.
The Labor Department said 214,000 jobs were created in October, falling short of expectations of 231,000.
September’s figure was revised up to 256,000 from a previously reported 248,000 and August’s figure was also revised up to 203,000 from 180,000, pointing to underlying strength in the labor market.
The U.S. unemployment rate ticked down to a fresh six-year low of 5.8% from 5.9% in September.
The US dollar index, which tracks the performance of the greenback against a basket of six major currencies, was down 0.18 % to 87.50, off Friday’s four-and-a-half year peaks of 88.31.
The euro was higher, with EUR/USD easing up 0.15% to 1.2473, moving away from Friday’s 26-month trough of 1.2356.
The single currency’s gains were held in check after the European Central Bank reiterated its pledge late last week to implement further stimulus measures if needed to combat persistently low levels of inflation in the euro area.