NEW YORK: The dollar fell on Monday as stocks opened higher, indicating improving risk sentiment despite a rise in coronavirus cases.
Wall Street's gain came after a sharp drop on Friday.
"It's a weak start for the US currency, I think it's mostly risk on," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
Investors have been weighing better economic data against a new uptick in Covid-19 infections.
The greenback may get some boost from quarter-end demand later on Monday or on Tuesday, after underperforming this quarter, analysts said.
The euro gained 0.47% to $1.1270.
The dollar gained 0.21% against the Japanese yen to 107.44 yen.
Sterling weakened to a one-month low against the greenback on concerns about how Britain's government will pay for its planned infrastructure program.
There are also doubts about whether Britain will seal a trade pact with the European Union as little progress has been made in agreeing Britain's future relationship with the bloc, which it exited on Jan. 31.
The pound was last down 0.26% at $1.2301.
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