Dollar edges down vs euro as eventful week kicks off
U.S. dollar edged down against the euro on Monday, at the start of an action-packed week for markets with Britain's budget, a European Central Bank meeting, U.S. jobs data and important political moments in both China and the U.S. all due.
Eyes were also on Bitcoin, which rose to a more than two-year peak above $65,000 after a quiet weekend, pushed higher in recent weeks by big flows into cryptocurrency exchange-traded funds, most notably in the United States.
The euro was up 0.12% to $1.0853, while the dollar index — which measures the currency against six major peers — was about flat at $103.83. The Japanese yen fluctuated around the closely watched 150-per-dollar level. The dollar was last up 0.24% at 150.485 yen.
Most major currency pairs stuck close to recent trading ranges, as traders shied away from big directional bets ahead of this week's host of potentially market-moving events.
«FX markets are — once again — operating with an abundance of caution ahead of lots of new info this week,» said Helen Given, FX trader at Monex USA in Washington.
«No one wants to get stung on any surprise, so I'd be surprised if flows don't remain muted in the front half of this week,» she said.
In the United States, Federal Reserve Chair Jerome Powell testifies before lawmakers on Wednesday and Thursday, and then there is U.S payrolls data on Friday, with forecasts pointing to a still-solid rise of 200,000 jobs after January's barnstorming 353,000 jump.
«Payrolls could be the bigger mover as Powell is likely comfortable
