The U.S. dollar was higher against the Japanese yen and the euro in Asian trading Monday afternoon, buoyed by strong jobs data from Washington that eased concerns about a slowdown in the U.S. economy. The dollar was trading at 105.26 yen Monday afternoon in Tokyo, up 0.51 yen from late Friday and also above the 104.92 yen it bought in New York later that day. The euro fell to US$1.2801 Monday afternoon from US$1.2938 and to 134.77 yen from 135.43 yen. The dollar held steady after gaining ground in New York on Friday on an unexpectedly large increase in April job creation, suggesting that the U.S. economy is still growing strong. The Labor Department reported that U.S. nonfarm payrolls grew by 274,000 last month -- nearly 100,000 more than financial markets expected. The data sparked speculation that the strong jobs growth would lead the U.S. Federal Reserve to raise interest rates, pushing the dollar higher. Higher U.S. interest rates make yields on dollar-denominated assets more attractive than those in other currencies. While some players bought back the U.S. currency after seeing no immediate sign that China was moving to loosen its yuan-dollar peg after a week of public holidays there, the speculation may continue to make the U.S. currency top-heavy. "Just because there was no revaluation over the weekend, doesn't mean the issue has gone away," said Masahiro Sato, joint general manager of the treasury division at Mizuho Trust & Banking Co.