The US dollar has risen against the Japanese Yen as encouraging trade figures helped the American currency increase its value against its peers.

The US dollar also recorded an increase Yen and reached its highest against a basket of major currencies in a month in Asia.  However, the gain was limited due to concerns over the upcoming US employment report.  The jobs data is expected to show that the world's biggest economy created 196,000 jobs in December, according to analysts polled by Reuters.

A weak data could affect the increasing vale of the dollar while a lower than expected figure could raise fears that the Federal Reserve might start rolling back its bond-buying stimulus at a faster rate.  Analysts are expecting the US federal reserve to release the minutes of the December policy meeting soon.

Federal Reserve officials have said that they will start cutting stimulus and cut asset purchases by $10 billion to $75 billion a month.  More details about the meeting will reveal the timings of the roll back of the stimulus package.

Against the yen, the US Dollar rose about 0.4 percent to 104.98.  Meanwhile, the dollar index rose to 80.946, reaching highs seen in early December.

Source: Top News