The dollar/yen was up 0.02 percent as of 07:15 GMT on Monday to trade at 110.72 as market participants looked ahead of key economic data from Japan and the United States later this week, including Japan’s manufacturing PMI, consumer confidence and core CPI, as well as US ISM manufacturing and non manufacturing PMI and the latest jobs report.

Non farm payrolls for July are scheduled at 12:30 GMT on Friday, with economists forecasting a 183,000 jobs build last month. The unemployment rate is likely to come in at 4.3 percent. Average hourly earnings are seen rising a moderate 0.3 percent.

As these reports will have serious effects on the likelihood of a Federal Reserve December interest rate hike, the risk on/ risk off mode will dominate the pair in the next few days.

Earlier in the session, Japan reported a 1.6 percent expansion of its industrial production in June, compared to a forecasted growth rate of 1.7 percent.

The US dollar remains under pressure due to the ongoing political crisis affecting the Trump administration, which weighs hard on Wall Street sentiment and expectations for further monetary policy tightening later this year.

According to Fed funds tracked by CME Group’s FedWatch program, traders are currently pricing in a 42.5 percent probability for a rate hike by December.

The US dollar index, which gauges the greenback against a basket of six major rivals, was up 0.22 percent at 93.32 on Monday morning, showing a slight recovery from its weakest level since June 22, 2016. On Friday, the American currency closed 0.61 percent to the downside.