The dollar slipped against most major currencies on Monday after last week’s disappointing U.S. jobs data fueled uncertainty about whether the Federal Reserve will begin to taper its stimulus program this month.
The yen fell as Japanese stocks rallied following Tokyo’s winning bid to host the 2020 Olympics and as Japanese second-quarter economic growth was revised up sharply. The yen and Japanese stocks have held a strong negative correlation this year.
Data Friday showing slower-than-expected U.S. job growth in August, even as the jobless rate hit a 4-1/2-year-low, continued to weigh on sentiment, although the dollar did not undergo the mauling it took on Friday.
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