On Monday the dollar was steady against the euro and the yen
after weakening on Friday as downbeat U.S. economic data added to concerns
that the recovery is losing momentum.
EUR/USD was at 1.0869, not far from Friday’s two-week highs of 1.0899.
USD/JPY edged up to 119.14 from 118.82 late Friday.
On Friday the Commerce Department said that orders for durable goods, excluding aircraft, fell 0.5% in March,
after a downwardly revised 2.2% drop in February. The news undermined the sentiment for the dollar.
The headline figure climbed 4.0%, beating expectations for a 0.6% gain, but investors focused on underlying weakness in the report.
This report came after recent disturbing reports on employment, retail sales and industrial production, adding to signs of a slowdown in economic growth since the start of the year.
The weak data added to pressure on the dollar which has been hit as investors pushed back expectations on the timing of an initial rate hike by the Federal Reserve.
The euro remained vulnerable as jitters over Greece’s debt
negotiations continued.
On Friday euro zone finance ministers said that Greece must present a full economic reform plan by early May in order to access any further funding.
