In Asia trade on Mondya, the greenback acted lower against the key Japanese currency.
The evergreen buck found itself at ¥113.68 right after getting to an earlier high of ¥114.07, compared to Friday’s result of ¥113.96 in New York.
Currency traders are currently reluctant to make big moves in the market after seeing the greenback’s reaction to a mixed bag from Friday’s American jobs post.
In New York, on Friday, the key American currency managed to climb up higher than ¥114, thus reacting to upbeat US jobs data for February. Nevertheless, after a while the greenback leapt back to ¥113.11, following a descent in hourly wages for the previous month.
Traders actually don’t see a risk-off mood, though selling’s kicking in because as the greenback’s upside has been capped at ¥114.
Furthermore, market participants found it quite difficult to open strong positions ahead of central bank gatherings later on this month. It makes the evergreen buck more sensitive to profit taking on its ascend.
The ECB’s board members are going to meet on Thursday. That day the central bank is supposed to push the major interest rate further into negative territory.