* Dollar under broad pressure after shock from weak payrolls
* Dips to one-month low of 106.35 yen, euro rises to $1.1375
* Yellen due to speak later on Monday
By Ian Chua
SYDNEY, June 6 (Reuters) - The dollar languished at its lowest in over three weeks early on Monday after an unambiguously disappointing U.S. employment report prompted investors to rule out the chance of a hike in U.S. interest rates this month.
The dollar index .DXY stood at 94.112, having been as low as 93.855 on Friday - a level last seen on May 12. It tumbled 1.6 percent on Friday, posting its second biggest one-day drop this year.
Against the yen, the greenback slid to a one-month low of 106.35 JPY= . The euro climbed to its highest in three weeks at $1.1375 EUR= and has since drifted back to $1.1350.
Friday's data showed nonfarm payrolls increased by only 38,000 jobs last month - the fewest in more than 5-1/2-years - confounding forecasts for a rise of 164,000 jobs. way you cut it, Friday's U.S. nonfarm payrolls was a shocker," said Rodrigo Catril, currency strategist at National Australia Bank.
"Now, even if Fed speakers keep drumming up expectations of more than one rate hike for 2016, we suspect the market will be reluctant to follow until the data ratifies this view."
Indeed, Cleveland Federal Reserve President Loretta Mester on Saturday said gradual rate hikes remained appropriate, arguing the jobs number had not changed the overall economic picture. investors have just about priced out the risk of a rate increase at the Fed's June 14-15 policy review and cut back chances of a July move as well.
All eyes will be on Federal Chair Janet Yellen, who is due to speak on economic outlook and monetary policy to the World Affairs Council of Philadelphia at 1630 GMT on Monday.
Commodity currencies were a major beneficiary of the broad decline in the greenback.
The Australian dollar surged nearly 2 percent on Friday and briefly extended gains early on Monday. It came just shy of 74 U.S. cents AUD=D4 , before turning tail to last stand at $0.7340.