Dollar dips, euro helped by ECB's wait-and-see approach

Frankfurt (Apr 7)   The dollar lost ground against the yen and dipped versus the euro on Monday as U.S. jobs data last week disappointed some who had bet on a number strong enough to break this year's tight trading ranges.

A stronger dollar was to have been this year's big play on major currency markets, according to many banks and investment houses, and there were signs last week the U.S. currency was finally set to break higher. But non-farm payrolls on Friday was judged short of the decisive evidence of a strengthening recovery that would usher in much higher U.S. interest rates and lift the dollar in the months ahead.

In that context, even the signs last week that the European Central Bank is closer to outright money-printing have failed to shift the dollar significantly higher against the euro.