U.S. Dollar Down on Downbeat Consumer Sentiment Data; Yuan Slightly Lower By Investing.com


© Reuters.

Investing.com – The U.S. dollar edged down on Monday in Asia after the University of Michigan reported on Friday that U.S. consumer sentiment was below expectations.

It will be a holiday-shortened week, with most major financial markets closed on Friday for the start of the Easter holidays.

that tracks the greenback against a basket of other currencies was down 0.1% to 96.477.

The Michigan fell to a reading of 96.9, well below expectations for a reading of 98.1, following two-straight months that saw gains above expectations.

The data is unlikely to prompt the Federal Reserve to divert from its wait-and-see approach to monetary policy.

Meanwhile, the is trading slightly lower against the U.S. dollar even after Washington softened demand in the trade deal, Reuters reported on Monday, noting that US negotiators have tempered demands that China curbs industrial subsidies as a condition for a trade agreement.

On Friday, China released stronger-than-expected and credit data that showed exports rebounded last month, easing concerns of a global economic growth slowdown.

Data on fixed asset investment, industrial production and first quarter growth are set to be released on Wednesday.

The pair traded near flat at 0.7172. The Reserve Bank of Australia is due to publish the minutes of its latest policy meeting on Tuesday. The jobs report is due later in the week.

The pair inched up 0.1% to 1.3095. The EU granted a delay to Brexit until October 31 to allow moew time for U.K. Prime Minister Theresa May to come up with a deal that lawmakers are willing to support.

The pair slipped 0.1% to 111.92.

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