* Dollar/yen rebounds on bargain hunting before U.S. jobs
* BOJ Kuroda: weak yen positive for economy as a whole
* Further upside for dollar seen if jobs data proves firm
* Aussie on track to post rare weekly gain
(Adds comments from BOJ governor)
By Shinichi Saoshiro
TOKYO, Oct 3 The dollar rebounded against the
yen on Friday from steep losses overnight, lifted by bargain
hunting and comments from the Bank of Japan chief that a weak
yen was on the whole positive for the economy.
Bank of Japan Governor Haruhiko Kuroda said the yen's
weakening is positive as long as it reflects the actual state of
Investors awaited U.S. non-farm payrolls data later in the
day for further relief for the dollar, which had fallen from
six-year highs as a slide in global equities drove U.S. Treasury
yields lower and increased demand for the safe-haven yen.
Earlier in the week the dollar had rallied to a six-year
high versus the yen and a two-year peak against the euro on
well-set views of monetary policies in the United States and
those of the euro zone and Japan diverging.
The dollar rose 0.5 percent to 108.98 yen, coming off
the week's trough of 108.01 hit overnight on bargain-hunting
bids, but was still some distance from the six-year peak of
110.09 touched on Wednesday.
"The fact that dollar/yen managed to hold just above 108
encouraged dollar bulls. Whether the dollar is really on an
uptrend is still unclear, so buying on dips is a sound strategy
for now," said Bart Wakabayashi, head of forex at State Street
The dollar was poised to lose 0.3 percent against the yen
The euro fell 0.2 percent to $1.2649 after putting
some distance overnight from its two-year low of $1.2571. The
common currency was on track to shed 0.3 percent against the
dollar this week.
The euro gained on Thursday after European Central Bank
President Mario Draghi sounded less dovish than some
anticipated, giving no indication of imminent stimulus after the
central bank's policy meeting.
"The euro's rebound did not look convincing even as Draghi
did not sound as dovish as expected. The fundamentals remain
unchanged - the ECB is seen being forced to adopt QE
(quantitative easing) down the road, while the Fed appears
poised to hike rates if conditions allow," said Junichi
Ishikawa, a market strategist at IG Securities in Tokyo.
After a week of mixed data out of the United States, the
September nonfarm payrolls data due at 2130 GMT could further
fuel expectations of an early rate hike by the Fed.
According to a Reuters poll of economists, nonfarm payrolls
are seen coming in at 215,000, a big jump from August.
The Australian and New Zealand dollars also held on to
gains won back from the greenback after the U.S. currency's
rally against the euro and yen was halted.
The Aussie fetched $0.8790 after bouncing from a
nine-month low of $0.8663 reached earlier in the week. The
antipodean currency was on track to rise 0.25 percent this week
for a rare weekly gain.
The kiwi traded at $0.7870 after touching a
14-month trough of $0.7708 this week.
(Editing by Eric Meijer)