The US Dollar held steady in Sydney trading when held up against the euro, but was weaker against the yen. The US non farm payroll data for June was considered soft, an indication that the US economy could be slowing down. The attitude of trading with the greenback could be attributed to this soft US data.

Expectations are that the dollar will be sold over this week while being closely scrutinized for influences that the US Federal Reserve will take a breather in tightening up on interest rates in August, something that has been highly anticipated since the most recent rate hike was announced at the end of June. Any expectations that the American currency will be dumped from trading portfolios are considered to be premature at this point.