Dollar Recovers After Early Setback, But Stays Mostly Subdued
(RTTNews) - After hovering around two-month lows during the Asian session, the U.S. dollar recovered some lost ground on Monday, but struggled to move any significantly higher as investors remained cautious amid concerns about growth after last week's data showed a contraction in the nation's services sector.
Investors now look ahead to some crucial economic data, including reports on personal consumption expenditure, first-quarter GDP growth estimate, and speeches from a slew of Federal Reserve officials.
The dollar index, which dropped to 106.13 in the Asian session, climbed to 106.75 later on in the session, and was up marginally at 106.70 a little while ago.
Against the Euro, the dollar declined marginally at 1.0466, and against Pound Sterling, it firmed a bit to 1.2623.
The dollar strengthened against the Japanese currency, fetching 149.76 yen a unit, up from 149.28 yen on Friday. Against the Aussie, the dollar firmed to 0.6346 from 0.6358.
The Swiss franc was up slightly against the dollar at 0.8973, while the Loonie weakened against the greenback, losing nearly 0.3% at 1.4266 a unit of the U.S. currency.
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