LONDON Reuters The dollar was stuck in neutral on Monday, after hitting a speed bump when last weeks mixed bag of U.S. labour data allayed investor fears about a hastening end to monetary stimulus.
While the headline June job creation figure beat forecasts, unemployment ticked higher and workforce participation didnt budge suggesting positive progress, but space for the Federal Reserve to wait before tapering asset buying or hiking rates.
Bonds rallied, stocks rose and the dollar slipped in the wake of the data dropping most against the risksensitive Australian and New Zealand dollars and the ratessensitive yen.
It steadied with slight but broad gains in the Asia session, which carrying over to trading in Europe. It gained about 0.2 against the kiwi, which sat at 0.7022, traded flat at 111.05 yen and climbed by about 0.2 to 1.1859 per euro.
U.S. markets are closed on Monday for the Independence Day holiday.
Fridays NFP jobs report gave something for everyone in terms of an aboveconsensus NFP gain, but also an aboveconsensus unemployment rate, strategists at ING said in a note to clients.
U.S. interest rate markets slightly softened their stance on early Fed tightening and the dollar ended slightly softer. Todays U.S. public holiday suggests trading will be quiet today, although the Fed story will very much reemerge on Wednesday evening when investors pore through the minutes of the pivotal June 16th FOMC Federal Open Markets Committee meeting.
The dollar index…