The U.S. dollar took a dip on Monday as Asian investors caught up with a benign payrolls report and the subsequent slide in Treasury yields, while oil prices showed no sign of escaping their downward spiral.Share markets were mostly lower following a soft finish on Wall Street though sentiment was supported by speculation the Federal Reserve would be patient in tightening policy given the weakness of wages apparent in the jobs numbers.Wages fell by the most since the series began in 2006 even as payrolls increased by a brisk 252,000.Treasury yields fell sharply on the news as the market pushed out the likely timing of the first rate hike, which in turn undercut the dollar.The greenback slipped as far as 118.12 yen on Monday, reaching a low last seen on Jan. 6, before steadying at 118.25. The euro edged up to $1.1855 and away from last weeks nine-year trough of $1.1754.The dollar index eased to 91.838, off a nine-year peak of 92.528 scaled last week.With Tokyo on holiday, there was little initial reaction to news Japans government planned a record budget for next fiscal year of more than $800 billion as Prime Minister Shinzo Abe seeks to shore up the economy.
Posted on: Mon, 12 Jan 2015 06:09:03 +0000