Dollar surges against yen

On Monday, the US dollar edged up against the Japanese yen, following disappointing trade figures from China. 

The greenback surged 0.2%, trading at 107.30 yen.

The dollar index, gauging the dollar’s value against key six currencies, was last worth 93.847, up compared to Friday's outcome of 93.277.

The euro traded steady at $1.1407.

By the way, on Friday, the evergreen buck initially dropped after headline payrolls data unveiling that American economy gained the fewest jobs for seven months in April. 

However, the market appeared to be quick to reverse positions on closer look at the number, showing an encouraging pick-up of annual wage growth. 

Another factor ensuring the greenback’s rebound was William Dudley, New York Fed President, who told that two American rate hikes this year are still actual.   

All of that brought the greenback higher to the levels seen before the closely watched payrolls posts.  

Higher than expected annual wage growth keeps alive Fed rate increase hopes, however the growing risk is a delayed Fed rate surge.   

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