The greenback eased slightly and traded mixed against majority of its peers on Monday as investors are on caution ahead of Friday's release of U.S. jobs report.
Reuters reported U.S. manufacturing continued to grow in July, though the pace slowed for the second straight month as spending rotates back to services from goods and shortages of raw materials persist. The Institute for Supply Management (ISM) said on Monday its index of national factory activity fell to 59.5 last month, the lowest reading since January, from 60.6 in June.
Versus the Japanese yen, dollar traded sideways inside a narrow range in New Zealand and Asia before rebounding to 109.74 in early European morning. The pair then met renewed selling there and fell to session lows at 109.19 in New York on broad-based buying in jpy.
The single currency traded with a firm bias in New Zealand and Asia and gained to session highs at 1.1896 in European morning due partly to cross-buying in euro especially vs sterling. However, lack of follow-through buying triggered profit-taking and the pair retreated to 1.1866 in New York before stabilising.
The British pound traded sideways inside a narrow range in New Zealand before gaining in tandem with euro to session highs at 1.3932 in European morning. The pair then met renewed selling there and fell to session lows of 1.3876 at New York open on cross-selling in sterling especially vs euro and jpy.
Data to be released on Tuesday:
Japan Tokyo core CPI, Australia building permits, RBA rate decision, Swiss consumer confidence, EU producer prices, U.S. redbook, durables ex-defense, durable goods, factory orders, durables ex-transport, Canada Markit manufacturing PMI and New Zealand GDT price index.
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