in key trading partner China. The yuan also got a boost.The U.S. dollar garnered support from higher Treasury yields after data on Friday showed payrolls in the public and private sector increased by 339,000 in May, far outstripping the 190,000 forecast on average by economists polled by Reuters.
The U.S. currency gained 0.11% to 140.135 yen , as 10-year U.S. Treasury yields climbed more than 3 basis points to 3.727% in Tokyo. The dollar rallied 0.84% against the yen on Friday.While headline U.S.
However, those bets simply shifted to July, and traders eased off on bets for rate cuts later in the year.tool shows interest rate traders are laying 1-in-4 odds for a hike next week, down from 2-in-3 odds a week earlier. For July, markets put 70% odds for rates to be at least a quarter point above where they are currently.
"It's very data-driven, and given that wages are moderating, it would point to a potential pause - but I don't believe they're done," said Bart Wakabayashi, a branch manager at State Street in Tokyo.Wakabayashi expects the dollar to push up to 142.50 yen, and a clear break of that would open the way to 145.The Aussie was flat at $0.6605, recovering from early losses of as much as 0.25%, aided by more evidence of China's recovery from the pandemic.
The yuan edged up, reversing an earlier decline. The U.S. dollar was 0.03% lower at 7.1074 yuan in offshore trading , after earlier gaining 0.15%. It reached a six-month high at 7.1404 on Thursday.its biggest production cut in years. The greenback slipped 0.06% to C$1.34265, approaching Friday's two-week low of C$1.3408.
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