Investing.com - The yen gained in Asia on Monday after producer prices data came in below expectations.
In Japan, PPI data for April fell 0.3% month-on-month, more than the 0.2% decline seen, and at a 4.2% drop year-on-year, more than the 3.7% decrease expected.
USD/JPY was down 0.02% to 108.63, while AUD/USD traded at 0.7271, down 0.03%.
On Monday, the Frankfurt Stock Exchange will remain closed for the Whit-Monday holiday.
The U.S. is to release data on manufacturing activity in the New York region.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 94.60.
In the week ahead, investors will be looking ahead to Tuesday’s data on U.S. inflation and Wednesday’s minutes of the Fed’s April meeting for clues on the path of future interest rate increases.
Preliminary data from Japan on first quarter growth and jobs reports from the U.K. and Australia will also be in focus.
Last week, the dollar rose to one-month highs against a basket of its major peers on Friday after stronger-than-expected reports on U.S. retail sales and consumer sentiment soothed investor concerns over the strength of the economy.
The Commerce Department reported Friday that retail sales jumped 1.3% in April, topping economists’ expectations for a 0.8% increase.
It was the largest monthly increase since March 2015.
The dollar received an additional boost after data showing that U.S. consumer sentiment improved this month.
The preliminary reading of the University of Michigan’s index of consumer sentiment came in at 95.8 in May, up from 89.0 in April and well ahead of expectations for a reading of 90.0. It was the highest reading since June 2015.
The upbeat data helped ease some fears over the outlook for the U.S. economy and rekindled expectations that the Federal Reserve could raise interest rates sooner than anticipated.