The yen rose toward its highest level since December versus the dollar as concern lingered that the U.S. labor market is too weak for the Federal Reserve to start raising interest rates.
The dollar retreated from near multi-year highs against the Aussie and euro as traders weighed a U.S. jobs report showing incomes declined in December. Speculators boosted wagers on the U.S. currency versus eight of its major peers to a record high before the U.S. releases consumer-price data Jan. 16. The euro touched a nine-year low versus the greenback last week and today slipped to its weakest since October against the yen as an official said European Central Bank policy makers met to discuss government-bond purchases.
Japan™s currency rose 0.2 percent to 118.28 per dollar as of 9:14 a.m. in Singapore and touched 118.13, the highest level since the 118.06 reached Jan. 6 that was the strongest since Dec. 17.
Japanese markets are closed today for a holiday. The yen reached 121.85 on Dec. 8, the weakest level since July 2007.
The euro advanced 0.2 percent to $1.1863, after last week dropping to a nine-year low of $1.1754. Australia™s dollar climbed 0.3 percent to 82.24 U.S. cents, 2.4 percent higher than the 5 1/2-year low touched Jan. 7.
Source : Bloomberg