The closely-watched U.S. jobs data showed
April non-farm payrolls increase roughly in line with forecasts to
223,000 but a significant downward revision to the March figure. Wage
growth, a favored metric for Fed policy makers, was also softer than
expected.
The mixed data
supported bets that the Fed will not begin hiking rates until late in
2015 and pushed U.S. debt yields lower, in turn weakening demand for the
dollar.
"And with the U.K. elections over, attention will shift back towards fundamentals and Bank of England policy and whether it can head towards hiking rates," Kadota at Barclays said.
Investors will have a chance to gauge the central bank's stance when the BOE policy meeting minutes are released later in the day.
The pound dipped slightly to $1.5408 GBP=D4 after surging well over 1 percent to a two-month high of $1.5523 late on Friday, after Prime Minister David Cameron's Conservative Party defied expectations and won, a relief for investors who were braced for a hung parliament and the political uncertainty associated with it.
The New Zealand dollar remained under pressure after the country's central bank hinted last month that it might cut rates if the economy slowed and inflation stayed low, stirring market speculation regarding the timing of its easing. The kiwi was down 1.4 percent, touching a near two-month low of $0.7373 NZD=D4.
Tim Kelleher, head of institutional FX sales at ASB Bank said a prediction from ANZ bank that the Reserve Bank of New Zealand (RBNZ) would cut rates in both June and July cranked up selling pressure on the kiwi.
"And with the U.K. elections over, attention will shift back towards fundamentals and Bank of England policy and whether it can head towards hiking rates," Kadota at Barclays said.
Investors will have a chance to gauge the central bank's stance when the BOE policy meeting minutes are released later in the day.
The pound dipped slightly to $1.5408 GBP=D4 after surging well over 1 percent to a two-month high of $1.5523 late on Friday, after Prime Minister David Cameron's Conservative Party defied expectations and won, a relief for investors who were braced for a hung parliament and the political uncertainty associated with it.
The New Zealand dollar remained under pressure after the country's central bank hinted last month that it might cut rates if the economy slowed and inflation stayed low, stirring market speculation regarding the timing of its easing. The kiwi was down 1.4 percent, touching a near two-month low of $0.7373 NZD=D4.
Tim Kelleher, head of institutional FX sales at ASB Bank said a prediction from ANZ bank that the Reserve Bank of New Zealand (RBNZ) would cut rates in both June and July cranked up selling pressure on the kiwi.
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