EUR/USD
The euro pared gains against the U.S. dollar on Monday after data showed that U.S. consumer spending slowed again in January and U.S. manufacturing activity expanded at the slowest pace in 13 months in February. The Commerce Department reported that U.S. consumer spending slid 0.2% in February after falling 0.3% in the previous month. Economists had forecast a 0.1% decline.
GBP/USD
The pound trimmed losses against the U.S. dollar on Monday, after data showed that U.K. manufacturing activity expanded at the fastest rate in seven months in February, although demand for the greenback remained broadly supported by Friday's U.S. growth report. In a report, market research group Markit said that its U.K. manufacturing purchasing managers' index rose to 54.1 last month from a reading of 53.1 in January. Analysts had expected the index to inch up to 53.4 in February.
USD/JPY
The dollar extended gains against the Japanese yen on Monday, even after data showed that U.S. manufacturing activity expanded at the slowest pace in 13 months in February, as an upbeat U.S. growth report published on Friday continued to support. The yen recovered some losses today, as January preliminary wages rose 1.3% year-on-year, well above the 0.6% gain expected and the 11th straight rise.
