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Dollar Loses Ground Against Rivals As Traders Await More Data
(RTTNews) - The U.S. dollar drifted lower against its major counterparts on Monday as investors looked ahead to the release of some crucial economic data this week for more clarity abut the Federal Reserve's interest rate moves.
Reports on consumer confidence, new home sales, durable goods orders, first quarter GDP and personal income and spending are likely to attract attention in the coming days.
The personal income and spending report includes a reading on inflation said to be preferred by the Federal Reserve and could impact the outlook for interest rates ahead of the Fed meeting next week.
The dollar index dropped to 101.33, losing nearly 0.5%.
Against the Euro, the dollar weakened to 1.1046 from 1.0992. The dollar is weak against Pound Sterling at 1.2482, easing from 1.2440.
Against the Japanese currency, the dollar has firmed a bit to 134.27 yen, and against the Aussie, the greenback is little changed at 0.6694.
The dollar is weak against Swiss franc, fetching CHF 0.8878 a unit, while against the Loonie, it is flat at 1.3536.
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