The dollar fell against the euro and the yen on Monday in the wake of last week's gloomy U.S. jobs data, but the euro remained vulnerable to concerns about the political and economic future of the European Union. The greenback was sold off after weak U.S. jobs figures on Friday while the euro remained close to 8-month lows after France and the Netherlands rejected the EU constitution in referendums last week. Comments by European Central Bank Chief Economist Otmar Issing to German business newspaper Handelsblatt that the bank's monetary policy strategy "does not rule out" an interest rate cut also weighed on the euro. "The market needed to see recovery after a recent selloff," said Benedikt Germanier, currency strategist at UBS in Zurich. "Issing's comments are bearish for the euro -- everyone knows there should be a rate cut from an economic (indicators) point of view. But monetary aggregates are still growing. Even Issing talking about a rate cut is a risk, although he is not suggesting a rate cut."