Dollar steadies after tumble as investors eye imminent Fed cuts
Data on Friday showed U.S. employment growth undershot expectations in July while the nonfarm payrolls count for the prior two months was revised down by a massive 258,000 jobs, suggesting a sharp deterioration in labour market conditions.
Adding to headwinds for markets, Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer the same day, accusing her of faking the jobs numbers.
The greenback recovered some of its losses against the Japanese currency on Monday, last trading 0.14% higher at 147.60 yen . Still, it was down about 3 yen from its peak on Friday.
The euro fell 0.2% to $1.1560 , while sterling eased 0.1% to $1.3263.
Against a basket of currencies, the dollar edged up 0.2% to 98.86, after sliding more than 1% on Friday.
In other currencies, the Australian dollar slipped 0.17% to $0.6465, after rising 0.8% on Friday against a weaker greenback. The New Zealand dollar eased 0.24% to $0.5905. Reuters
The Swiss franc was last little changed at 0.8041 per dollar. Reuters
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