The yen wallowed at one-week lows against the dollar and euro early on Monday, having been beaten down late last week as U.S. stocks rallied after investors got over a disappointing set of headlines on the U.S. labour market.
Traders said expectations that Asian stocks could track Wall Street were keeping a lid on demand for the low-yielding Japanese currency for now.
The dollar bought 102.65 yen, while the euro fetched 139.79 yen, both at their highest since late January. Against the greenback, the euro traded at $1.3623, not far from a one-week high of $1.3649 reached on Friday.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.