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June, 08 - A subdued USD demand failed to assist USD/JPY

The USD/JPY pair edged lower on the first day of a new trading week and eroded a part of Friday's strong positive move to over two-month tops.

USDJPY0806

The US dollar struggled to capitalize on the previous session's positive move and was seen as one of the key factors exerting some pressure on the USD/JPY pair. It is worth recalling that the greenback staged a goodish bounce on Friday and got an additional boost following the release of stronger-than-expected US monthly jobs report.

The headline NFP showed that the US economy surprisingly added 2.509 million jobs in May as compared to consensus estimates pointing to a fall of 8 million jobs. The upbeat reading was accompanied by an improvement in the unemployment rate, which fell to 13.3% as against a big jump expected to 19.8% from 14.7% in April.

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