The Japanese yen slipped against its major counterparts in the early European session on Friday amid improved risk sentiment, as soft ADP private sector payrolls data fueled expectations that the Federal Reserve is likely to adopt a less aggressive stance on rate hikes.

Investors await U.S. jobs data due later today that is expected to show a slowdown in job growth in May.

Economists expect a gain of 325,000 jobs in May following an increase of 428,000 jobs in the previous month. The unemployment rate is expected to fall to 3.5 percent from 3.6 percent.

Fed Vice Chair Lael Brainard told CNBC it's "very hard to see the case for a pause" in rate hikes and the central bank still has "a lot of work to do to get inflation down to the 2 percent target."

The latest survey from Jibun Bank showed that Japan services sector in Japan continued to expand in May, and at a faster rate, with a services PMI score of 52.6.

That's up from 50.7 in April, and it moves further above the boom-or-bust line of 50.

The yen fell to more than a 6-week low of 135.89 against the franc and a 4-week low of 163.51 against the pound, off its prior highs of 135.35 and 163.06, respectively. The next likely support for the yen is seen around 138.00 against the franc and 167.00 against the pound.

The yen declined to a fresh 6-week low of 139.85 against the euro and a 7-1/2-year low of 103.48 against the loonie, from its early highs of 139.40 and 103.10, respectively. The yen may challenge support around 141.00 against the euro and 105.00 against the loonie.

The yen reversed from an early high of 129.69 against the greenback, edging down to 130.05. The yen is likely to face support around the 132.00 level.

In contrast, the yen held steady against the kiwi and the aussie, after having rebounded to 85.00 and 94.10, from a fresh 5-week low of 85.39 and a 6-week low of 94.57, respectively hit in the previous session. The yen had ended yesterday's deals at 85.09 against the kiwi and 94.29 against the aussie.

Looking ahead, U.S. jobs data and ISM non-manufacturing PMI for May will be released in the New York session.

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