Dollar edges up in Asia ahead of US jobs data

TOKYO, Oct 3 (AFP) : The dollar rebounded against the yen in Asian trade Friday after tumbling from a six-year high, as investors await the release of a key US jobs report later in the day.

In Tokyo the greenback changed hands at 108.98 yen, up from 108.42 yen.

However, it is well off the levels above 110 yen it touched in Asia Wednesday before succumbing to profit-taking and disappointing US data.

The euro was at $1.2643 and 137.80 yen against $1.2667 and 137.34 yen in US trade after the European Central Bank Thursday held off further rate cuts, but said they were committed to taking steps to combat deflation.

"Tonight's US payrolls data will be important; a strong labour report could push the dollar back up," Yutaka Miura, senior technical analyst at Mizuho Securities told Dow Jones Newswires.

But traders were cautious with various concerns hitting sentiment, including the Federal Reserve's plans to exit its stimulus and raise interest rates, the first US Ebola virus outbreak and unrest in Hong Kong.

"A sense of risk-off tone still prevails as markets continue to be buffeted by a combination of factors, including the ever-closer Fed normalisation, growth worries particularly regarding the eurozone and China, as well as geopolitical risks," Credit Agricole said in a note.