On Friday the greenback dropped against its major peers after an index measuring
the price of U.S. labor declined sharply in the second quarter.
The euro jumped to $1.1036, from $1.0980 before the report, while the dollar dropped to 123.93 yen, from 124.30 yen.
The dollar index, as tracked by Bloomberg, has been last at 96.378:
The data released earlier suggested that wage
inflation remained weak in the second quarter, and that the labor market
may not be as strong as employment data suggested. That in turn could
influence Fed policy makers to delay an interest-rate increase, several
analysts said.
Central bank officials have pledged to base their decision on
when to raise interest rates on the strength of economic data.
Any data
that could encourage them to delay a hike tends to weaken the dollar.
Higher interest rates would increase the return on deposits held in
dollars, making the currency more attractive to investors, while weakening commodities.
