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Forex - Dollar slips lower vs. euro, egdes up against yen

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Investing.com -

Investing.com - The dollar slipped lower against the euro and edged up against the yen on Monday, as expectations for a U.S. rate hike before the end of this year weakened following Friday's downbeat U.S. jobs report.

EUR/USD rose 0.25% to trade at 1.1239.

The Labor Department reported on Friday that the U.S. economy added just 142,000 jobs last month, well below expectations of the 203,000 expected by economists.

August's reading was revised down to 135,000, from the initial reported figure of 173,000.

Average hourly earnings were flat month-on-month and the labor force participation rate fell to just 62.4%, down from 62.6% in August. The unemployment rate was unchanged at 5.1%, in line with forecasts.

The report underlined fears that a slowdown in global economic growth has spread to the U.S. economy and prompted investors to push back expectations on the timing of an initial rate hike by the Federal Reserve to early 2016.

USD/JPY added 0.10% to 120.01, off Friday's one-month low of 118.66, as investors booked profits on the greenback's fall.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was down 0.20% at 95.84.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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