India, May 6 -- The Japanese yen reversed from early gains against other major currencies in the Asian session on Monday, although the Japanese stock market is closed for Children's Day holiday on the day.
The safe-haven currency rose against its major rivals in the last week, following suspected intervention from Japanese authorities to prop up the currency from a sharp slide.
Investors remain cautious amid easing concerns about the outlook for U.S. Fed interest rates after data showed a slowdown in U.S. employment growth in April and U.S. service sector activity unexpectedly contracted in April.
The weak data raised hopes that the Fed will start reducing interest rates during the latter part of the current year. Fed Chair Jerome Powell...