JPY decline from its highest level in two weeks after jobs report

Japanese yen fell against the dollar Monday, after it rose to its highest level in two weeks, which witnessed the best weekly performance since 2009 last week, this came after employment sector data from the United States, which brought the dollar to rise.

The dollar yen pair is trading at its highest level in today's Asian session at 117.26after opened the session today at 116.78 level, this came after the pair last Friday fell to its lowest level in two weeks at the level of 116.35.

The decline in the Japanese yen today comes after the dollar recovered its gains on Friday against major currencies, after better than expected data released from the US economy on employment sector to show the strength and stability of employment in the United States of America.

The US jobs report showed a decline in unemployment rates below expectations and previous reading. It is the most important reading focus of the Federal Reserve Bank. For evaluating and assessing employment sector of the US economy, to have the greatest positive impact on the markets, despite the decline in the number of new jobs data over the past month.

employment sector data showed the US economy's ability to cope with the current weakness in the growth in the global economy and tensions in global financial markets, which may increase the chances of the Federal Reserve Bank to follow the policy of raising interest rates during this year gradually.

The dollar index, which tracks the dollar's performance against a basket of major currencies, witnessed a fluctuated weak movement in today's trading to trade around 97.0 leve, l after recording the highest at 97.11 and the lowest at 96.97 comes after registering last week its lowest level in four months at 96.25.