Dollar drops against peers, euro gains

NEW YORK, Sept 3 (Reuters): The US dollar extended losses against major currencies, including the yen, Swiss franc, and euro, on Wednesday after economic data showed weakening labor demand, strengthening market hopes for an upcoming Federal Reserve interest rate cut.

The dollar erased earlier gains against the yen and Swiss franc following the data.

It weakened 0.15% to 148.11 against the Japanese yen and dropped 0.16% to 0.803 against the Swiss franc.

The euro added to its gains against the dollar. It was last up0.34% at $1.1677.