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U.S. Dollar Takes a Breather

The dollar started trade in Asia on the back foot on Tuesday having run out of puff near a two-week high, giving the euro a chance to get over an unexpected slump in German industrial output.

The dollar index traded at 80.218 .DXY, off a 1-1/2 week peak at 80.359. Still, it managed to hold on to most of the gains made on Thursday in the wake of solid payrolls data.  The greenback’s lackluster performance came as U.S. Treasury yields slipped after Wall Street turned cautious ahead of the second-quarter earnings season starting this week.

That helped the euro pop back above $1.3600 EUR= from Monday’s low of $1.3576, when an unexpectedly big fall in Germany’s industrial output briefly unsettled the common currency.

Reuters [1]

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