The dollar was steady just above one-month euro lows in very thin trading volumes with European investors opting to use the opportunity of the Independence Day holiday in the US to stay on the sidelines. "In what will be a very quiet trading session given the Independence Day holiday in the US, the dollar is likely to remain close to recent trading lows," said Bank of Tokyo-Mitsubishi senior currency economist Derek Halpenny. The dollar's renewed weakness started last week when Fed policy-makers indicated that they may not raise interest rates again in the current cycle after voicing their concerns about the growth outlook. Yesterday's manufacturing survey from the Institute for Supply Management provided further evidence of a cooling in US economic conditions. Its main manufacturing index dipped to 53.8 pct in June from 54.4 in May and expectations of a rise to 55.0. Readings above 50 indicate expansion. Analysts said the report painted a mixed message for the Fed, which last week raised the Fed funds rate a quarter point for the 17th consecutive occasion to 5.25 pct. They noted that the prices charged component was still elevated at 76.5, but that the employment sub-index slumped by 4.2 to 48.7, its lowest level since October 2003.