Investing.com - The dollar edged higher against the yen on Tuesday ahead of U.S. employment data later in the day, amid speculation over how soon the Federal Reserve will start to reduce stimulus measures.
USD/JPY hit 98.37 during late Asian trade, the highest since Thursday; the pair subsequently consolidated at 98.31, gaining 0.15%.
The pair was likely to find support at 97.76, Monday’s low and resistance at 98.69, the high of October 15.
The dollar dropped against the other major currencies late last week on concerns over the negative impact of the 16-day government shutdown on the already fragile U.S. economic recovery.
Fears over a drag on growth fuelled expectations that the U.S. central bank would postpone plans to start tapering its stimulus program until at least the beginning of next year.
Investors were looking to the September nonfarm payrolls report, which had been originally scheduled for release on October 4, to help indicate if the Fed is close to scaling back its asset purchase program.
Elsewhere, the yen was little changed against the euro, with EUR/JPY inching up 0.06% to 134.40.
USD/JPY hit 98.37 during late Asian trade, the highest since Thursday; the pair subsequently consolidated at 98.31, gaining 0.15%.
The pair was likely to find support at 97.76, Monday’s low and resistance at 98.69, the high of October 15.
The dollar dropped against the other major currencies late last week on concerns over the negative impact of the 16-day government shutdown on the already fragile U.S. economic recovery.
Fears over a drag on growth fuelled expectations that the U.S. central bank would postpone plans to start tapering its stimulus program until at least the beginning of next year.
Investors were looking to the September nonfarm payrolls report, which had been originally scheduled for release on October 4, to help indicate if the Fed is close to scaling back its asset purchase program.
Elsewhere, the yen was little changed against the euro, with EUR/JPY inching up 0.06% to 134.40.