The US dollar inched lower versus the Japanese yen on Monday, but remained in a close range, with a lack of new trading clues preventing the currency from escalating after last week’s surge.
The greenback ended at ¥124.19 from Friday’s ¥124.18. It shortly broke below the ¥124-threshold after it remained above that mark most of the session.
A bunch of economic figures is about to come and the market is changing to a mood “where it all depends on what comes out,” said Toshiyuki Umekawa, Senior Vice President of Forex Division at Mizuho Bank.
This week, the market will await the ISM manufacturing report for May due today and jobs data for May due Friday.
The material has been provided by InstaForex Company – www.instaforex.com