Dollar dips against major currencies

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Dollar dips against major currencies

(Xinhua) 15:06, August 06, 2013

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The U.S. dollar dipped against most major currencies on Monday, continuously pressured by disappointing U.S. non-farm payroll report for July.

U.S. Labor Department reported last Friday that total non-farm payroll increased by 162,000 in July, less than expected.

However, July's jobless rate fell more than expected, falling to 7.4 percent from 7.6 percent in June, but some analysts pointed out that this may be because more people have given up to seek jobs.

The greenback has been under pressure since the Federal Reserve announced last week that it would continue its current monetary stimulus to bolster the slow economic growth and job creation.

Dollar's losses were moderate as the Instituted for Supply Management reported Monday that U.S. non-manufacturing index jumped to 56.0 from June's 52.2, which beat market forecast.

Meanwhile, investors will closely watch monetary policy meeting of Bank of Japan this week. BoJ Governor Haruhiko Kuroda will hold a press conference on Thursday after the two-day meeting.

In late New York trading, the euro fell to 1.3259 dollars from 1.3285 dollars of the previous session and the British pound increased to 1.5348 dollars from 1.5285 dollars. The Australian dollar climbed to 0.8911 dollars from 0.8908 dollars.

The dollar bought 98.3 Japanese yen, lower than 98.90 yen of the previous session. It edged down to 0.9279 Swiss francs from 0. 9288 Swiss francs and moved down to 1.0369 Canadian dollars from 1. 0390 Canadian dollars.

（Editor：WangXin、Gao Yinan）