U.S. Dollar remains subdued ahead of China data

The dollar held off a seven-month trough in Asia on Monday, having found a bit of support after a top Federal Reserve official suggested there is a chance the central bank may scale back stimulus next month.

The euro, meanwhile, failed to gain much momentum after a general election in Germany left Angela Merkel’s conservatives just short of votes needed to rule on their own.

The euro rose around a quarter of a U.S. cent to an early high of $1.3555 before quickly reversing to $1.3528, flat from late New York levels. Against the yen, the common currency was also steady at 134.40, having earlier touched 134.56.


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