The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. services sector stopped contracting, and highlighting the economic recovery from the coronavirus pandemic.
The euro moved in a narrow range before economic data from Germany and the eurozone that are also forecast to show a sharp rebound in corporate activity and retail sales, which would ease concerns about the economic outlook.
A steady rise of new coronavirus infections in the United States has discouraged some investors from taking on excessive risk, but most market participants remain focused on the growing likelihood that major economies will continue to recover.
The dollar held steady at 107.56 yen on Monday in Asia following a 0.3% gain last week. Market activity was subdued following the July 4 long weekend holiday in the United States.
The euro changed hands at $1.1247. Against the British pound, the common currency bought 90.18 pence. Sterling moved in a narrow range at $1.2474. Against the Swiss franc, the dollar was quoted at 0.9455.
Source : Reuters
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