LONDON/SINGAPORE (Reuters) – The dollar was stable after losing ground overnight on U.S. data showing further signs of a cooling labor market, while the pound was slightly higher after data showed that UK economy beat expectations in first quarter.
Around 10.55 Italian, the dollar against the yen trades up by 0.15% to 155.72 yen, but does not seem to be able to recover yesterday’s high of 155.95. The euro, however, changed little at 1.0779 dollars.
The dollar index was virtually unchanged at 105.249 after falling 0.3% yesterday.
The pound advanced 0.1% to $1.2533, after trading at $1.2516 before the data. It fell to a two-week low yesterday after the Bank of England held interest rates steady, signaling the possibility of a cut in the summer.
The yen is set to lose about 1.7% against the dollar over the course of the week, as traders continue to test Japanese authorities’ resolve to support the currency.
(Translated by Laura Contemori, editing Antonella Cinelli)
