By Polya Lesova, MarketWatch
NEW YORK (MarketWatch) -- The Japanese yen rose against the dollar on Monday, with the greenback broadly lower against its major rivals ahead of data on manufacturing and construction spending.
The dollar (USDJPY) fell to 93.71 yen Monday, compared to Yen94.22 in North American trade on Friday.
"Short-covering is making the yen the best performing currency today," said analysts at Brown Brothers Harriman in a note to clients.
The yen's gains were accompanied by a slump in Japanese stocks, with the Nikkei Stock Average tumbling 2.1% after the Bank of Japan's quarterly "tankan" survey on business sentiment disappointed investors.
The ICE dollar index (DXY), which measures the greenback's performance against six other major currencies, slipped to 82.962 on Monday morning from 82.998 on Friday.
The WSJ dollar index , which tracks the dollar's moves against a slightly wider basket than the ICE index, declined to 73.49 on Monday from 73.56 on Friday.
The ISM manufacturing survey for March and construction-spending data for February are due to be released later on Monday.
European stock markets are closed Monday for an extended Easter break.
The euro (EURUSD) traded at $1.2800 compared to $1.2821 on Friday. The euro dropped about 2% versus the dollar over the course of March as it revisited November lows, and fell 2.8% in the first quarter.
(END) Dow Jones Newswires
April 01, 2013 08:34 ET (12:34 GMT)
NEW YORK (MarketWatch) -- The Japanese yen rose against the dollar on Monday, with the greenback broadly lower against its major rivals ahead of data on manufacturing and construction spending.
The dollar (USDJPY) fell to 93.71 yen Monday, compared to Yen94.22 in North American trade on Friday.
"Short-covering is making the yen the best performing currency today," said analysts at Brown Brothers Harriman in a note to clients.
The yen's gains were accompanied by a slump in Japanese stocks, with the Nikkei Stock Average tumbling 2.1% after the Bank of Japan's quarterly "tankan" survey on business sentiment disappointed investors.
The ICE dollar index (DXY), which measures the greenback's performance against six other major currencies, slipped to 82.962 on Monday morning from 82.998 on Friday.
The WSJ dollar index , which tracks the dollar's moves against a slightly wider basket than the ICE index, declined to 73.49 on Monday from 73.56 on Friday.
The ISM manufacturing survey for March and construction-spending data for February are due to be released later on Monday.
European stock markets are closed Monday for an extended Easter break.
The euro (EURUSD) traded at $1.2800 compared to $1.2821 on Friday. The euro dropped about 2% versus the dollar over the course of March as it revisited November lows, and fell 2.8% in the first quarter.
(END) Dow Jones Newswires
April 01, 2013 08:34 ET (12:34 GMT)
