* Upbeat U.S. nonfarm payrolls help dollar gain vs yen
* Euro edges up, keeps shaking off post-ECB easing impact
* Antipodean currencies on steady footing after ECB
By Shinichi Saoshiro
TOKYO, June 9 The dollar edged up against the
yen in early trade on Monday thanks to upbeat U.S. employment
data while the euro crept up from multi-month lows, continuing
to shake off the impact from the European Central Bank's
monetary easing last week.
The dollar rose 0.2 percent to 102.62 yen, adding to
gains made on Friday when data showed U.S. nonfarm payrolls
increased by 217,000 last month, returning to its pre-recession
level and offering confirmation the world's largest economy has
snapped back from a winter slump.
The euro climbed 0.1 percent to $1.3650, pulling away
from a four-month low of $1.3503 hit Thursday when the ECB cut
all its main rates to record lows and announced an array of
measures to halt a disinflation trend.
"The series of measures unveiled by the ECB will not start
having an impact right away. As such, short covering of euro
short positions, which had built up considerably prior to the
ECB meeting, is being covered by participants pocketing
profits," said Shinichiro Kadota, chief Japan FX strategist at
Barclays in Tokyo.
There was little market reaction to a series of data out of
Japan. First quarter economic growth was revised up to 1.6
percent from a preliminary 1.5 percent and the country logged a
third straight month of current account surplus, albeit lower
than expected, in April
"The market is more focused on data pertaining to inflation
and its possible impact on the Bank of Japan's monetary policy,"
said Kadota at Barclays.
Antipodean currencies continued to ride the upward momentum
created by the boost to risk sentiment triggered by the ECB's
The Australian dollar traded at $0.9339, not far
from a near three-week high of $0.9358 hit on Friday.
The New Zealand dollar was up 0.1 percent at $0.8505, having
pulled away sharply from a three-month low of $0.8401 struck
last week prior to the ECB meeting.
(Editing by Richard Borsuk)