US dollar nurses losses after downbeat US jobs data, pound edges lower

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Images and market data is displayed on digital display signs on the exterior of the headquarters of Morgan Stanley at 1585 Broadway in New York's Times Square, September 16, 2015. REUTERS/Mike Segar

By businesstimes.com.sg

The US dollar nursed losses on Monday, coming close to a seven-month low against a currency basket plumbed after disappointing US employment data prompted investors to pare back their expectations of future US Federal Reserve rate hikes.

The US dollar index, which tracks the greenback against a basket of six major currencies, was flat in early Asian trading at 96.736 but not far from Friday’s nadir of 96.654, its lowest since Nov 9.

Sterling edged down, under pressure after the third terrorist attack in Britain in less than three months killed at least seven people on Saturday.

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