Many currencies, including the majors, were retracing last week’s movements on Monday, leading to little action in the U.S. dollar and euro, as well as a rebound from losses in emerging markets.
On Monday, the ICE U.S. Dollar Index was down 0.1% at 96.530.
Similarly, the euro which got punished after weaker than expected manufacturing data for the eurozone and its biggest component Germany, was slightly stronger at $1.1318, versus $1.1305.
On Monday, Germany’s Ifo data for March showed stronger than anticipated assessments of business climate, current conditions and expectations.
The Japanese yen weakened against the dollar, after shooting to a roughly six-week high in response to Friday’s action in bond yields. One dollar last bought ¥110.11, compared with ¥109.92 late Friday in New York.
Source : Market Watch