Dollar ticks up

TOKYO: The dollar rose against the euro and yen on Monday after falling in US trade owing to a weak report on workers´ pay that reignited questions about the timeline for an interest rate hike.
In Tokyo afternoon trade, the greenback fetched 124.05 yen, edging up from 123.91 yen in New York late Friday.
The euro bought $1.0976 and 136.15 yen against $1.0984 and 136.10 yen in US trade. On Friday, the dollar fell against other major currencies as the US report showed wages and salaries rose just 0.2 percent in the second quarter, decelerating from 0.7 percent growth in the first.
The disappointing data came after confidence rose on a report from the US Commerce Department Thursday that said the world´s top economy expanded at an annual rate of 2.3 percent in the April-June period, the strongest growth since the third quarter of 2014. And while the figure was a little below expectations, the department also revised up its estimate on the first quarter of the year -- which was hit by severe winter weather -- to growth of 0.6 percent, from a 0.2 percent contraction. Currency traders are keeping a close eye on US data as they try to gauge the timeline for a Federal Reserve rate hike -- a plus for the dollar -- which is widely expected in September or December.