* Dollar edges up vs yen amid bounce in equities
* Yen shows little reaction to Japan elections
* Pound takes a breather, Aussie near 2-week high
By Shinichi Saoshiro
TOKYO, July 11 (Reuters) - The dollar edged up against the euro and yen on Monday thanks to an improvement in risk appetite amid a bounce in equities, but Friday' strong U.S. jobs data capped the greenback longer term by firming expectations that the Federal Reserve would not raise interest rates anytime soon.
The dollar was up 0.1 percent at 100.69 yen JPY= after sliding to as low as 99.99 yen on Friday in the wake of the U.S. jobs report. The report was much stronger than expected with jobs increasing by 287,000 in June, but it did not change the view that the Fed may not hike rates this year, particularly after May's payrolls growth was revised down to 11,000 from 38,000. euro was steady at $1.1043 EUR= , recovering slightly from Friday's low of $1.1002.
Japan's Nikkei .N225 rose 3.0 percent following Friday's gains on Wall Street, where shares soared on views that the Fed would not be in a hurry to tighten monetary policy.
"We still see the yen appreciating in the medium to long term, but for the moment we see the market focusing on Bank of Japan's policy and Japan's fiscal stimulus plans now that the Japanese elections are over," said Shin Kadota, chief Japan FX strategist at Barclays (LON:BARC) in Tokyo.
Japanese Prime Minister Shinzo Abe's ruling coalition won a landslide victory on Sunday in an election for parliament's Upper House. While the win is seen clearing the way for the government to compile fresh stimulus measures, there are concerns that revising the constitution could now be given priority with economic steps taking a back seat.
Elsewhere, the pound steadied a little following the post-Brexit turbulence which has buffeted the currency through much of this month.
Sterling was little changed at $1.2940 GBP=D4 after crawling away from a 31-year low of $1.2798 struck last week. Still, the pound was seen vulnerable in the longer term with the UK still in the beginning stages of working out its future relationship with the European Union.
The Australian dollar was down 0.1 percent at $0.7555 AUD=D4 , not far from a two-week high of $0.7574 reached Friday on the greenback's broad weakening.