Dollar edges up after early weakness

The dollar edged up against the euro and other major currencies Monday even as analysts predicted the greenback would be pressured by last week's dismal US jobs report.

The greenback endured a bout of weakness early in the day before advancing against the Japanese yen and the British pound, among others.

The pattern was similar to Friday, when the dollar initially fell after Labor Department data showed the US added just 142,00 jobs in September.

However, analysts cautioned the greenback would face pressure given expectations that the Federal Reserve will not raise benchmark interest rates until December at the earliest.

"The greenback's allure was seriously dented by Friday's payrolls report for September," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange.

The weak September report followed disappointing data in August, "suggesting the economy could be beginning to suffer from a global downturn that has engulfed China and emerging markets and was cited by the Fed when it opted to not raise rates last month," he said.