USD/JPY continues to rebound from 2-month low

The US dollar fluctuated in a narrowly bullish range against the Japanese yen during the Asian session today, to see its rebound for the sixth session in eight from its lowest since February 8th, amid a lack of economic data by the Japanese economy and on the threshold of developments and economic data expected on Wednesday by The US economy.

At 06:15 GMT, USD/JPY rose 0.12% to 111.45 compared to the opening at 111.32, after reaching the highest level since March 20th at 111.53, while the lowest at 111.21.

Investors are currently focusing on the US economy release of preliminary data on the labor market, with the reading of the monthly ADP Non-Farm Employment Change, which may show an acceleration of job creation to 184,000 added jobs versus 183,000 in February, in addition to the average income per hour for the last month later this week.

Leading to the final reading of the Final Services PMI

by Markit, which may reflect the stability of the expansion at 54.8 compared to 56.0 in February, before the disclosure of ISM Non-Manufacturing PMI, which may show the expansion shrink to 58.1 from 59.7 in February. It's worth mentioning that the supply of services is a leading indicator of economic health as it represents more than two-thirds of the US GDP.