Investing.com - The yen gained on Tuesday in Asia on safe-haven demand as Britain looks headed for Brexit sooner than expected.
USD/JPY changed hands at 102.51, down 0.27%, while AUD/USD traded at 0.7535, up 0.01% ahead of a closely-watched business survey. GBP/USD tarded at 1.2982, down 0.07%.
Earlier in Japan, producer prices fell 4.2% as expected.
Ahead, the NAB business confidence survey for June is due with the previous level at plus-3, and the business survey for June is also on tap with a previous reading of plus-10.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 96.58.
Overnight, the dollar held onto gains against the other major currencies in subdued trade on Monday, as Friday’s strong U.S. employment data continued to boost optimism over the strength of the economy.
The Labor Department reported on Friday that the U.S. economy added 287,000 jobs last month, well above the 175,000 jobs forecast by economists. Average hourly earnings were up 2.6% compared with a year earlier.
The report also showed that the unemployment rate ticked up to 4.9% and May’s payrolls figure was revised down to 11,000 from a previously reported 38,000, the smallest monthly increase since 2010.
The strong jobs report was seen as unlikely to alter the Federal Reserve’s cautious plans for raising interest rates.
The pound briefly rose above the 1.30 level against the dollar on Monday, boosted by prospects that Theresa May will become the next U.K. prime minster much earlier than had been anticipated.
The news came after Andrea Leadsom, one of the two candidates from Britain’s ruling Conservative Party to succeed Prime Minister David Cameron pulled out of the race.
But sterling remained under pressure amid mounting expectations for a rate cut from the Bank of England at the conclusion of its policy meeting on Thursday.