Investing.com - The greenback traded largely flat against major currencies on Monday in a market void of major economic indicators as investors digested Friday'' soft U.S. unemployment data a day before Federal Reserve Chair Janet Yellen delivers her first congressional testimony as the country''s top monetary authority.
In U.S. trading on Monday, EUR/USD was up 0.01% at 1.3636.
The U.S. Labor Department reported on Friday that the economy added 113,000 jobs in January, less than an expected 185,000 increase.
While soft, the numbers weren''t seen as weak enough to prompt the Fed to seriously delay tapering its USD65 billion in monthly bond purchases, which weaken the dollar to spur recovery by suppressing long-term interest rates.
Still, uncertainty surrounding the pace at which the Fed will taper due to soft economic indicators weakened the dollar at times in a session void of major U.S. economic indicators.
Investors also remained on the sidelines ahead of Yellen''s congressional testimony on Tuesday, which many hope will carry clues on the direction of U.S. monetary policy.
Meanwhile, the single currency remained under pressure after Germany''s constitutional Court ruled at the end of last week that the European Central Bank’s bond-buying program may exceed its mandate, and referred it to European Court of Justice.
Markets shrugged off data released earlier revealing that French industrial production fell 0.3% in December, compared to expectations for a 0.1% uptick. Industrial production in November was revised down to a 1.2% increase from a previously estimated 1.3% rise.
The dollar was down against the yen, with USD/JPY down 0.09% at 102.24, and down against the Swiss franc, with USD/CHF down 0.14% at 0.8972.
In Japan, government data showed that the current account deficit expanded to JPY0.20 trillion in December, from JPY0.05 trillion the previous month. Analysts had expected the current account deficit to expand to JPY0.06 trillion in December.
The greenback was up against the pound, with GBP/USD down 0.07% at 1.6402.
The dollar was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.21% at 1.1056, AUD/USD down 0.19% at 0.8942 and NZD/USD down 0.38% at 0.8264.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.01% at 80.74.