On Monday the dollar remained lower against its major rivals despite fresh positive numbers from the U.S.
Orders for durable U.S. goods rose 3.4% in June, mostly because of strong bookings for passenger airplanes. However, overall business investment remained soft and shipments of goods barely rose, the government said Monday.
Orders minus transportation rose 0.8% - the highest gain since
August 2014, but not a strong advance. Orders for
core capital goods - a reflection of business investment - rose a mild
0.9% in June following two straight declines. Still, core orders are
running 3.4% below 2014 levels halfway through the year.
Shipments of
core capital goods, a category used to help define quarterly economic
growth, slid 0.1% last and month and have declined in the first two
months of the second quarter.
The U.S. dollar index was down 0.80% at 96.57, the lowest level since July 14.
EUR/USD surged 1.05% to multi-week highs of 1.1098.
GBP/USD last traded at 1.5581, lower 0.39%.
Earlier in Europe, the Ifo research institute said its business climate index climbed to 108.0 from a reading of 107.5 in June, beating expectations of 107.2.
Meanwhile, U.S. stocks opened lower following an 8.5% drop in China’s stock market.
The S&P
500 opened 14 points, or 0.7%, lower at 2065.
The Nasdaq Composite
was down 51 points, or 1%, to 5,036.
The Dow Jones Industrial Average began the day down 146 points, or 0.8%, to 17,420.