The dollar nursed losses against most currencies in subdued trade on Monday as disappointing U.S. jobs data caused some investors to scale back bets on a rebound in the greenback.
The dollar headed for its best weekly gain in three months on Friday, lifted by growing confidence that the U.S. economic recovery will outpace global peers.
The dollar traded near its strongest in more than two months against the euro and the yen on Thursday as pessimism about the U.S. economic outlook receded before the release of important data on the jobs market.
The dollar was slightly up on Wednesday morning in Asia, trading near a two-month high against the euro as the disparity between the strength of the U.S. and Europe’s pandemic recoveries widened.
The safe-haven dollar found support at the start of a new week with traders remaining wary amid the battle on Wall Street between hedge funds and retail investors.
The dollar remained on the back foot on Friday as an improvement in risk appetite sapped demand for the safest assets, with investors taking cheer from U.S. economic data wasn’t as bad as feared.