Dollar Turns In Mixed Performance Against Major Rivals Ahead Of Key Economic Data
The U.S. dollar turned in a mixed performance against its major counterparts on Monday as traders looked ahead to a slew of crucial U.S. economic data for more clarity about the outlook for interest rates.
Investors also looked ahead to some key U.S. economic data, including reports on new home sales, durable goods orders and personal income and spending.
The Commerce Department's personal income and spending report includes readings on inflation said to be preferred by the Federal Reserve.
S&P flash U.S. services PMI and S&P flash U.S. manufacturing PMI readings for April will be released on Tuesday. On the first quarter GDP data is due.
The dollar index, which climbed to 106.40 around mid morning, after exhibiting weakness during Asian and European sessions, dropped to 106.10 later on, recording a marginal loss.
Against the Euro, the dollar was little changed at 1.0657. The dollar traded at 1.2350 against Pound Sterling.
Against the Japanese currency, the dollar was stronger, fetching 154.84 yen a unit. The dollar was weak against the Aussie at 0.6449. The Swiss franc weakened to CHF 0.9122 against the dollar, while the Loonie firmed to 1.3702 a unit of the U.S. currency.
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