The dollar fell as investors awaited more US data


The dollar retreated on Monday after it had rebounded, as investors were in a state of caution at the start of a week full of central bank meetings and important US economic data to elicit indications of global inflation expectations and the reactions of policymakers, according to Reuters.

Trading was limited due to a holiday in both Japan and China, which curbed volatility, which made the US currency on the same level at settlement after a jump on Friday. It fell to 1.2054 against the euro and reached a three-week high against the yen at 109.66.

The dollar index, which measures its performance against six major currencies, slipped to 91.097 at midday, down from 91.390 in the previous session in Asia.

The index fell 2% in April, as a positive outlook for the global recovery prospects lifted currencies exposed to trade at the expense of the dollar, but changed direction in light of positive consumption data in the United States on Friday.

The rise in the Australian and New Zealand dollars was slight on Monday, which did not suffice to compensate for their losses on Friday.

The Australian dollar rose 0.3% to $ 0.7735, to be near its 20-day average movement, while the New Zealand dollar rose 0. .3% to $ 0.7177, also being slightly higher than its 20-day average of its moves. The pound sterling was the best performer against the dollar, as it rose 0.4% on the day to $ 1.3872.

The South Korean won reached a low of a week after North Korea pledged to respond to what it considers hostile US policy, while pressure for a nationwide lockdown in India pushed the rupee to decline slightly.

In cryptocurrency markets, Ethereum broke the $ 3,000 barrier, to hit a new high of $ 3,203.18.

The article The dollar fell as investors awaited more US data, it was written in the Al-Borsa newspaper.