Euro sags, yen jumps in Asian trade
The euro sagged against other major currencies in Asian trade Monday, as risk-averse investors flocked to the safe-haven yen following weaker-than-expected US jobs data.
The European single currency was changing hands at $1.3050 and 106.38 yen Monday, slipping from $1.3070 and 107.53 yen in Tokyo trade on Friday. The dollar was at 81.52 yen, down from 82.27 yen.
The Japanese currency rose after official data said February's current account, the broadest measure of Japan's trade with the rest of the world, swung back to surplus from a record deficit in the previous month.
Meanwhile, China said its inflation rate rose at a faster-than-expected 3.6 percent in March.
US and major European markets were closed for the Good Friday holiday, with many European bourses also closed on Monday.
"Trading is thin with many markets closed for holidays Monday," a senior trader at a major Japanese bank told Dow Jones Newswires.
The US Labor Department reported Friday that the number of unemployed workers hovered close to 13 million and hiring slowed, a warning sign that an economic recovery for the world's biggest economy may be in trouble.
"Risk aversion is strong with higher bond yields in Spain, and Italian bond auctions coming up," said Junichi Ishikawa, forex analyst at IG Market Securities in Tokyo.