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Euro dips against US dollar

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The euro fell slightly against the US dollar on Monday in quiet market ahead of packed week of economic data, including monthly US unemployment figures.

[NEW YORK] The euro fell slightly against the US dollar on Monday in quiet market ahead of packed week of economic data, including monthly US unemployment figures.

Toward 2100 GMT, the euro stood at US$1.1160, down from US$1.1177 on Friday.

Both the dollar and the euro also gained against the yen, with the dollar rising to 102.41 yen versus 102.07 yen on Friday. The euro rose to 114.29 yen from 114.09 yen.

"Looking at the data out of the eurozone and the US today, that should be somewhat supportive for the euro," said Eric Viloria of Wells Fargo.

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But investors may be cautious ahead of expected US data on non-farm payrolls, durable goods and personal spending, he added.

The US Federal Reserve, which sets key interest rates and influences the yield on US debt securities, has left rates ultra-low out of fear of interrupting sputtering US economic growth.

Unexpectedly weak quarterly growth figures from the Commerce Department on Friday helped to lower expectations of US rate hikes before the end of the year.

AFP

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