US dollar slips after Friday's gains
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London
THE US dollar edged lower on Monday, giving back some of its gains from Friday as investors consolidated bets before inflation data this week that may signal a turnaround in the currency's weakness this year.
Friday's strong employment data helped the dollar snap out of its funk which has seen it fall more than 8.5 per cent so far this year. "Friday's strong US jobs data has given the dollar bears something to think about but we would have to see whether this trend can be sustained before we see large short dollar position unwinding," said Kathleen Brooks, research director at City Index in London.
