NEW YORK: The dollar on Monday held steady near recent lows as new restrictions in Asia to contain Covid-19 and mixed economic signals from China supported safe-haven currencies, while bitcoin extended its slide.
The steady US 10-year Treasury yield, along with new outbreaks in Singapore and Taiwan provided some support the dollar against a basket of rival currencies.
Still, the greenback is struggling to gain momentum.
“The US dollar is lacking the support from yields that it needs to turn this weakness around,” said Shaun Osborne, chief FX strategist at Scotiabank in Toronto. “For the summer and into the Fall the US dollar is likely to stay soft.”
The dollar index was last down 0.04% at 90.247. The euro gained 0.02% to $1.2149 and the dollar fell 0.16% to 109.155 Japanese yen.
Bitcoin dropped to a three-month low after Tesla Inc boss Elon Musk suggested over the weekend that the electric automaker may have already sold some of its holdings in the digital currency.
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