The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. services sector stopped contracting, and highlighting the economic recovery from the coronavirus pandemic.
FILE PHOTO: A bank employee counts US dollar notes in this file photo from May 16, 2016. REUTERS/Kham
“When it comes to dollar/yen, recovery expectations are supporting the dollar, but worries about the virus are capping the upside,” said Masafumi Yamamoto, chief currency strategist at Mizuho Securities. The greenback has been locked into narrow trading ranges recently as concerns about a resurgence in U.S. coronavirus infections offset growing optimism about the economy.
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