NEW YORK: The US dollar edged lower on Monday, but clung to most of its gains following Friday’s robust US jobs report, as investors await inflation data this week that may signal a turnaround in the currency’s weakness this year.

The dollar index, which tracks the greenback against six major rival currencies, was down 0.07 percent to 93.473.

The index rose 0.76 percent on Friday as strong employment data bolstered the case the further monetary policy tightening by the US Federal Reserve.

The greenback gained against the New Zealand dollar, the Canadian dollar and the Australian dollar on Monday.

“The dollar is a little bit firmer on balance, sort of extending some of its gains against some of the G10 currencies, after last week’s robust job report,” said Erik Nelson, currency strategist at Wells Fargo Securities in New York.

“We have a view that the US dollar is due for some mild corrective strength in the near-term and we see some confirming price action from some of the key G10 currency pairs,” he said.

Meanwhile, the euro shrugged off an unexpected fall in German industrial production in June and rose 0.2 percent against the dollar to 1.1791.

The British pound slipped to a 10-month low against the euro, as investors bet the Bank of England would keep interest rates at record lows for the coming months, while the European Central Bank moves towards tightening.—Reuters