Dollar near two-week lows as rate-hike bets recede, embattled yen in focus

The US dollar hovered near two-week lows as expectations of a near-term Fed rate hike receded following softer June US payrolls data, with the dollar index around 100.9. The yen remained near a 40-year low around 160.57 per dollar, keeping intervention risk in focus as Tokyo may shift toward more covert, targeted action against speculators. Markets are now awaiting the minutes of the Fed's June meeting for fresh cues on the rates outlook, while declining oil prices have eased some inflation concerns.