Dollar gives up all of its payrolls-inspired gains

The dollar surrendered all of its gains against the euro from Friday’s session, and then some, after a news report on Monday said that U.S. President Barack Obama complained about a strong dollar.

Traders had expected some dollar weakness on Monday, according to Naeem Aslam, chief market analyst at Avatrade, as short-term investors were expected to book profits from Friday’s move.

The ICE U.S. Dollar Index DXY, -0.24% a measure of the dollar’s strength against a basket of six currencies, was down 1.1% to 95.2870.

The euro strengthened 1.5%, after a 1.1% gain on Friday, trading at EURUSD, +0.2480%  $1.1278, compared with $1.1113; the pound GBPUSD, +0.0586%  rose to $1.5342, from $1.5277; the dollar USDJPY, -0.10%  weakened to 124.52 yen, from ¥125.61.

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