The US dollar gained versus the euro and its other counterparts on Monday mainly benefiting from the weakness of the single currency. Investors were uncertain about the euro zone after downgrading of Spanish banks by Standard & Poor.
The euro fell to 1.3242 against the US dollar on Monday as compared to 1.3252 on Friday’s North American trading session. For the last month the pair EUR/USD has declined 0.8 percent. The Euro plunged to 105.71 versus the yen on Monday as compared to 106.52 on late Friday. The single currency has declined 4.4 percent against the yen in the month of April.
The ICE dollar index DXY which tracks the greenback’s movement against the basket of six major counterpart currencies gained to 78.779 on Monday as compared to 78.733 on Friday’s North American trading session. The index reached the intraday high of 79.918. The dollar index has declined 0.3 percent in month of April. The dollar index lost its gains after the sluggish US economic data as the manufacturing activity in the Chicago area declined more than expectations. Further to create uncertainty US consumer spending figure also gained less than expectations.
Among other currencies, the British Pound fell to 1.6233 versus the greenback on Monday as compared to 1.6265 on late Friday. The Australian dollar also fell versus the US dollar to 1.0420 as compared to 1.0468 in reaction to expectations of interest rate cut by Reserve Bank of Australia.
The US dollar however fell versus the Japanese yen to 79.82 as compared to 80.38 on Friday. For the month the greenback has declined 3.7 percent against the Japanese yen.
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