Yen weakens on intervention threat; slowdown fears weigh on euro

activity contracted faster than initially thought in June as persistent policy tightening by the European Central Bank squeezed finances, a survey showed on Monday, painting an increasingly gloomy outlook for industry.

China's onshore yuan steadied at 7.2494 after slipping to near eight-month lows against the dollar at the end of last week, supported by the central bank's intensified efforts to stabilise the much weakened local currency.will be on the minutes of the U.S. Federal Reserve's June meeting due on Wednesday.

"The U.S. economy is not slowing as forecast," Citi strategists said in a client note. "Surprisingly strong job growth is keeping labour markets tight while providing the nominal spending power to drive services consumption."CME FedWatch toolInvestor attention will also be on the Labor Department's Job Openings and Labor Turnover Survey, or JOLTS, and monthly payrolls report due later this week that will help gauge the labour market in the United States.

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