U.S. Dollar Remains Lower with Payrolls in Focus

The dollar struggled to get off a one-month low against a basket of major currencies early on Monday, having posted its biggest weekly fall in over two months after a batch of disappointing U.S. data dampened the allure of the greenback.

The dollar index was last at 80.042, after dipping as low as 80.010, a level not seen since May 21. It fell on Friday and closed near the low, unlike in the previous two sessions when it managed a half-hearted recovery.

Last week’s setback in the dollar came as investors downgraded their growth forecasts for the United States in the wake of data showing a surprisingly deep contraction in the first quarter and soft consumer spending.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.