The dollar fell against the euro in Monday morning trading in New York, reaching its lowest level in almost a week. The dollar moved off a daily high of 1.3432 that it touched around 9:30 am Eastern Time. The greenback then began to slip against the euro after the release of data showing Euro Zone PPI rose above expectations during April. By 9:30 am Eastern Time, the greenback was down to 1.3498, its lowest level against the euro since last Tuesday. The dollar began to rally a little after 10 a.m. ET.
The greenback also dropped against the yen on Monday morning in New York. The pair saw relatively little movement during the early morning, trading around 122. However, traders soon mulled data showing that Japanese capital spending grew more than expected in the first quarter. This took the dollar lower. By 9:15 am Eastern Time, the greenback was at 121.54, its lowest level against the yen since last Thursday. The greenback rallied over the next half-hour before leveling off.
The dollar slipped to a three-week low in trading with the pound on Monday morning in New York. The slide began around 5 am Eastern Time and continued into the mid-morning. By 9:30 am Eastern Time, the dollar traded as low at 1.9908 before stabilizing near that mark. Monday`s action came as traders looked ahead to the British retail sales monitor and Thursday`s Bank of England rate decision.
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