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.
"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 Institute for Supply Management's index for non-manufacturing activity due later on Monday is expected to rise to 50.0 in June from 45.4 in the previous month, indicating activity stopped shrinking.
Retail sales for all of the eurozone will also be released later on Monday. Both indicators are forecast to recover strongly from large declines caused by the spread of the coronavirus.
Source: Entertainment Trends (entertainmenttrends.net)
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