TOKYO, June 04 (Reuters): The dollar gained against the yen on Monday after the release of an upbeat US jobs report, although uncertainty over potential political risks kept the currency's near-term outlook murky.
The dollar added 0.15 per cent to 109.660 yen following a rise of 0.6 per cent on Friday.
Closely watched data out on Friday showed US jobs growth gathering pace and wages rising in May, making a rate hike by the Federal Reserve in June a near certainty and increasing expectations of a fourth hike this year.
The robust US jobs report helped offset factors that had weighed on the dollar earlier last week, such as a flare up in trade tensions between the United States and its allies. "The jobs report was strong but other recent US data also point to strong fundamentals, helping the dollar recover losses suffered from risk aversion. Uncertainty over the US-North Korea summit next week is still likely to cap the dollar's upside," said Shin Kadota, senior strategist at Barclays in Tokyo.
The greenback dipped against a basket of six major currencies, weighed by the euro's bounce against the greenback.
Greenback gains against yen
FE Team | Published: June 04, 2018 22:36:46
Greenback gains against yen
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