On Monday US dollar continued its expansion against the yen even further, compared to Friday trade session, after the release of US Non-Farm sector Employment data.
USD/JPY pair climbed to 98.78 during European morning trade, highest since last Thursday, after which consolidation followed at 98.65. Support was expected at 98.00, while resistance was to be met at Thursday high, 99.45.
Official report stated on Friday that US economy managed to add 175 000 job positions in May, above expectations for a rise by 163 000, while US Unemployment Rate rose by 0.1% to 7.6% in May, compared to Aprils rate of 7.5%.
This crucial indicator dominated market sentiment later on Friday and on Monday, showing that economic recovery in the United States has begun, but was not sufficient enough for FED to reduce scale of asset purchases.
Meanwhile, Japanese yen retreated against the euro, with EUR/JPY pair rising by 0.60% to 129.72.
Earlier today it became clear that Japanese GDP added 1.0% during Q1 2013, compared to Q4 2012, slightly exceeding the estimated 0.9% rise.
Additionally, Japanese Current Account registered a surplus in April twice larger than projected, 0.750 trillion JPY, compared to 0.350 trillion JPY, but yet lower than the surplus value during the preceding month, which was 1.251 trillion JPY.
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