TOKYO, June 4, 2009 (AFP) - The US dollar gained against the yen in Asia Thursday as speculative trade eased following fresh economic data in the United States and Europe that sapped hopes of an early global recovery.

The dollar firmed to 96.15 yen ($1.43) in Tokyo afternoon trade from 95.96 in New York late Wednesday.

The euro edged up to US$1.4165 ($2.03) from US$1.4156, recouping some losses after slumping from a five-month high of US$1.4338, following disappointing first quarter growth figures for the eurozone.

The European currency strengthened to 136.17 yen from 135.84.

"There was broad-based buying of the dollar as doubts emerged over the strength of the much anticipated economic recovery," wrote NAB Capital strategist John Kyriakopoulos in a note to clients.

The greenback was lifted as traders sought out the safe-haven currency following worse-than-expected US May unemployment data from a private survey by payrolls firm ADP on Wednesday.

The American private sector shed 532,000 jobs, a smaller number than the revised 545,000 in April, but worse than the 525,000 expected by analysts. The government will release its findings on Friday.

The data came as Federal Reserve chairman Ben Bernanke warned that the US needs to begin efforts to restore fiscal balance amid fears that the growing budget deficit is becoming unsustainable.

There are worries that if Washington's debt levels grow, the United States could lose its top credit rating, with disastrous consequences for the US dollar and the global economy.

"Even as we take steps to address the recession and threats to financial stability, maintaining the confidence of the financial markets requires that we, as a nation, begin planning now for the restoration of fiscal balance," Bernanke told the House Budget Committee.

Meanwhile the euro remained under pressure after news that the eurozone economies shrank at an unprecedented 2.5 percent in the first quarter. The 16-member zone has now seen four consecutive quarters of contraction.

Market players were awaiting the European Central Bank's monetary policy meeting later in the day, which was expected to announce a new plan to shore up credit in European markets.

The Bank of England will hold its meeting on the same day.

The dollar rose to 1.4452 Singapore dollars from 1.4355, to 1,249.65 South Korean won ($1.37) from 1,235.45, to 34.16 Thai baht ($1.44) from 34.01, to 47.39 Philippine pesos ($1.45) from 47.22 and to 32.67 Taiwan dollars ($1.44) from 32.49.

The greenback was lower at 10,152 Indonesian rupiah ($1.43) from 10,170.