The dollar rose more than 1% against the yen on Monday as , boosted by a robust U.S. jobs report and hopes for additional economic stimulus in Japan.
hit highs of 101.95 and was last at 101.91, up 1.3% for the day. The pair had fallen to lows of 99.97 in the wake of Friday’s jobs report.
advanced 1.22% to 112.43.
Japan’s surged 3.98% after Prime Minister Shinzo Abe’s ruling coalition increased its majority in the upper house in parliamentary elections on Sunday.
The win for Abe’s coalition fed hopes for to spur economic growth.
Risk appetite had already been boosted after data on Friday showing that the U.S. economy added jobs in June, well above the 175,000 jobs forecast by economists.
The indicated that the economic recovery is back on track.
SELL GBPINR BELOW 87.35 TGT 87.25-87.15-87.05 SL 87.55 ABOVE CMP 87.35-36