By James Ramage

The dollar stumbled against the euro and the yen Thursday after U.S. data indicated the labor market's gains remain uneven, further denting investors' expectations for higher interest rates by September.

The dollar weakened 0.3% against the common currency, with one euro buying $1.1084 in late-afternoon trade. The U.S. currency fell against the Japanese currency to Y123.10, now 0.1% lower for the day.

Still, the dollar made small gains over the course of the week. The Wall Street Journal Dollar Index, which compares the dollar against 16 other currencies, rose just 0.5% for the week.

The dollar's shallow trajectory over the U.S.-holiday-shortened week highlighted investors' reticence in the face of uncertainty surrounding the Federal Reserve's intentions for U.S. interest rates and the escalating Greek debt crisis. Many money managers predict the dollar will resume its rise from earlier this year once U.S. economic data improve sufficiently to persuade the Fed to increase borrowing costs for the first time in nine years.

The latest U.S. data suggests dollar bulls could have longer to wait. The U.S. added 223,000 jobs last month, from a downwardly revised 254,000 in May, the Labor Department said. Economists had forecast 233,000 jobs would be created in June. Hourly earnings, a metric the Federal Reserve has said must rise at a faster pace, held steady in June. Economists had expected a 0.2% increase in wages from May.

"When we see that, that lessens the likelihood that Fed hikes rates in September," Jim Caron, portfolio manager on the global fixed income team at Morgan Stanley Investment Management, said of the June report's numbers. "That's a negative for the dollar in the longer run."

The asset manager, which oversees $406 billion, predicts the U.S. central bank will raise interest rates in December. "The Fed has no immediate need to raise interest rates in this environment," Mr. Caron said.

Given recent statements of caution by the Fed, as well as uncertainty over the outcome of the Greek referendum on Sunday and the country's future in the euro area, the market has mostly discounted a September liftoff date for interest rates and is even softening on December.

Federal-funds futures, which investors use to predict Fed policy, show a 14% chance of a rate increase in September and a 48% chance in December, compared with a 17% likelihood in September and a 57% chance for December on Wednesday, numbers from CME Group shows.

The Fed has said it is following data for inflation and employment closely and would consider raising short-term interest rates when the U.S. economy has strengthened in those areas. Higher borrowing costs in the U.S. would draw more yield-hungry investors to the dollar, especially as Europe and Japan are moving to stimulate their economies through looser monetary policy.

Many investors still expect the dollar to strengthen over the rest of the year, continuing a rally that saw the dollar rise 23% against rival currencies between July 2014 and mid-March 2015.

"The rate of the dollar's rise was rapid; you really can't expect it to continue that pace," said Minh Trang, senior currency trader at Silicon Valley Bank. "You've been seeing investors take a breather on the dollar. For the dollar and the market, the Greek referendum is the next pivot point."

In other trade, the Swedish krona weakened after the Riksbank cut main interest rate further into negative territory and enlarged its asset-purchase program. The euro strengthened 1.2% against the Swedish currency to 9.3756 kronor, while the dollar strengthened 0.9% to 8.4588 kronor.

Write to James Ramage at james.ramage@wsj.com