The dollar held a three-day gain versus the yen even as bullish bets for the greenback were cut to levels last seen before Japanese Prime Minister Shinzo Abe took office in 2012 promising reflationary policies.

The greenback was near a three-week high against the yen before data at the end of this week expected to show U.S. unemployment fell last month. The dollar is little changed versus Japan’s currency this year even as the Federal Reserve discusses raising interest rates and the Bank of Japan carries out unprecedented easing. Australia’s dollar fell for a fourth day as traders see 73 percent odds its central bank will lower borrowing costs Tuesday.

The dollar was at 120.20 yen as of 7:37 a.m. in Singapore, after climbing 1 percent last week to 120.15. It rose 0.1 percent on Monday to $1.1190 per euro and was up 0.3 percent to 78.31 cents against the Aussie. Japanese markets are closed from Monday through Wednesday for public holidays.

 

Source : Bloomberg