Yen firms against dollar and euro in Asian trade

TOKYO: The yen firmed against the dollar and the euro in Asian trade Monday after better-than-expected data for Japanese machinery orders suggested a pick-up in the country's moribund economy.

The dollar slipped to 82.34 yen in Tokyo morning trade, from 82.44 yen late Friday in New York, where a healthy US jobs report spurred the greenback higher against other major currencies.

The euro bought $1.3110 and 107.96 yen in Tokyo morning trade, compared with $1.3120 and 108.19 yen late Friday in New York.

Japan's core machinery orders rose 3.4 percent in January from the previous month, according to official data released early Monday, hinting at better economic growth in the first quarter of this year.

But dealers said the dollar was still likely to break through the 83.00 yen mark this week, given recent positive US figures and speculation that the Bank of Japan will take new easing measures in a two-day meeting starting Monday. (AFP)