The Japanese yen weakened against other major currencies in the Asian session on Monday, as another set of weak U.S. economic data added to investor optimism that the Fed is done hiking interest rates.

Bond yields dipped after data showed U.S. jobs growth slowed in October and the unemployment rate ticked up slightly, underscoring views that the Fed is done hiking interest rates.

Data showed employment climbed by 150,000 jobs in October after an addition of a downwardly revised 297,000 jobs in September. The unemployment rate crept up to 3.9 percent from 3.8 percent in September.

Separate data showed a bigger than expected slowdown in the pace of growth in U.S. service sector activity in the month.

Oil prices were marginally higher after having fallen sharply on Friday on demand concerns. Top exporters Saudi Arabia and Russia said they would continue with oil supply curbs of more than 1 million barrels a day through year-end.

In the Middle East, the Israel Défense Forces (IDF) spokesperson Daniel Hagari said that significant strikes have been carried out and the Gaza Strip has been 'cut into two'.

In the Asian trading now, the safe-haven currency or the yen fell to a 2-month low of 185.21 against the pound, from Friday's closing value of 184.86. The yen may test support around the 186.00 region.

Against the euro and the Swiss franc, the yen slipped to 6-day lows of 160.68 and 166.76 from last week's closing quotes of 160.26 and 166.11, respectively. If the yen extends its downtrend, it is likely to find support around 162.00 against the euro and 169.00 against the franc.

The yen edged down to 149.68 against the U.S. dollar, from Friday's closing value of 149.37. On the downside, 152.00 is seen as the next support level for the yen.

Against the Australia, the New Zealand and the Canadian dollars, the yen slipped to nearly a 5-month low of 97.51, nearly a 4-week low of 89.70 and nearly a 3-week low of 109.66 from last week's closing quotes of 97.27, 89.58 and 109.35, respectively. The yen is likely to find its support level around 98.00 against the aussie, 91.00 against the kiwi and 111.00 against the loonie.

Looking ahead, German factory order for September is due to be released at 2:00 am ET in the pre-European session.

In the European session, PMI reports from different European economies and U.K. for October are slated for release.

In the New York session, Canada Ivey's PMI for October and U.S. Loan officer survey is set to be published.

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