TOKYO: The dollar held its gains Monday after soaring on an upbeat US jobs report that boosted expectations for an early interest rate hike, while it sat at 12-year highs against the euro as the European Central Bank prepares to launch a massive stimulus programme.
In Tokyo, the greenback bought 120.92 yen, up from 120.78 yen on Friday in New York, while the euro bought $1.0841 -- around its lowest since early 2003 -- compared with $1.0842.
The single currency was also at 131.11 yen against 130.95 yen.
"We could see the dollar continue to trend upward, especially if US data continues to be strong," Kate Warne, an investment strategist at Edward D. Jones, told Bloomberg News.
"Companies are feeling more comfortable adding to their workforce," she added.
The US Labor Department said Friday that the world's biggest economy created 295,000 new jobs in February despite some severe weather and mounting layoffs in the oil industry.
The better-than-expected figure came as the unemployment rate fell to 5.5 percent, its lowest since May 2008.
Analysts said the figures, the latest in a slew of strong US indicators, could mean the Federal Reserve will lift interest rates from zero as early as June.
By contrast, Japanese data showed Monday that the world's number-three economy grew less than initially thought in the final quarter of 2014, putting the Bank of Japan under pressure to launch more stimulus.
The number three economy expanded just 0.4 percent on quarter, down from an initial estimate of 0.6 percent growth, the Cabinet Office said, revealing an even less impressive emergence from recession than previously believed.
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