EUR/USD Edges Lower as US Dollar Rebounds on Soft NFP Data

The EUR/USD pair trades at around 1.1550 during the early European trading session on Monday, after the US Dollar rebounded from a significant fall on Friday.

The decline in the US Dollar was triggered by soft Nonfarm Payrolls data for July, which showed employers fired 23K workers instead of creating 80K new jobs as anticipated.

As a result, the odds of the Federal Reserve raising policy rates in September fell to 46%, down from 67% seen a week ago.