THE U.S. dollar dipped against other major currencies on Monday after soaring sharply in the previous session.
The market cooled down Monday over concerns that the greenback had been too strong. The dollar index, which measures the greenback against six other major peers, slipped 1.06 percent in late trading. On Friday, the index went up 0.92 percent, as the closely-watched U.S. non-farm payroll report came out much better than expected.
U.S. total non-farm payroll employment increased by 280,000 in May, well above market consensus of 220,000, the U.S. Labor Department reported last Friday.
Analysts said the positive jobs data showed sound recovery of U. S. labor market, triggering market expectations that the Federal Reserve may raise interest rates in September this year.
Meanwhile, investors kept an eye on Greece debt crisis. Greece reviewed Monday the debt deal proposal tabled with international lenders last week, ahead of the new scheduled meeting between European leaders on Wednesday.
Last Friday, Athens failed to repay a 300-million-euro (USD333 million) loan installment to the International Monetary Fund and requested a delay in the repayment.
In late New York trading, the euro rose to USD1.1276 from USD1.1119 in the previous session, and the British pound climbed to USD1.5334 from USD1.5274. The Australian dollar went up to USD0.7696 from USD0.7616.
The U.S. dollar bought 124.61 Japanese yen, lower than 125.62 yen on Friday. The greenback dropped to 0.9293 Swiss francs from 0. 9396 Swiss franc, and decreased to 1.2408 Canadian dollars from 1. 2445 Canadian dollars. (PNA)
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