The greenback fetched ¥102.63 in Tokyo mid-day trading, up from ¥102.46 Friday, while the euro was up at ¥141.74 from ¥141.46. The single currency also fetched $1.3810, against $1.3812.
Most leading financial markets around the world were closed Friday and Monday for Easter.
The yen faced moderate selling pressure after Japan said early Monday that its trade deficit surged to $14 billion in March, with a weak yen compounding surging imports as consumers rushed to buy ahead of a sales tax rise on April 1.
But the dollar is unlikely to breach ¥103 any time soon as investor sentiment has yet to completely turn the risk-on mode, says Osamu Takashima, chief FX strategist at Citi Bank Japan, in a morning note.
"We don't feel any sign that aggressive yen selling is set to start amid falling volatility," Takashima said.
Eyes are on the release this week of key economic data, including manufacturing activity around the world as well as retail, jobs and housing figures in the United States. – Agence France-Presse
source: gmanetwork.com
