Investing.com - The dollar remained slightly above breakeven against a basket of major currencies on Monday, as investors mulled over the release of mixed economic data.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, added 0.03% to 100.45 by 13:06 EDT.
The dollar retreated from session highs, as March construction spending fell below economists’ forecasts while economic activity in the manufacturing sector slowed less than expected.
The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) hit 57.2 in March, a 0.5% decrease from the February reading of 57.7 but slightly above economists’ forecasts of 57.0.
Meanwhile, the Commerce Department said, February U.S. construction spending increased 0.8% to its highest level in more than ten years but it missed analysts’ expectations of a 1% rise.
Several Federal Reserve officials are expected to make a public appearance during session; Philadelphia Fed President Patrick Harker will speak at 3:00PM ET (19:00GMT), while Richmond Fed President Jeffrey Lacker delivers comments at 5:00PM ET (21:00GMT).
New York Federal Reserve president William Dudley, gave a speech earlier during the session but didn’t address any specifics concerning monetary policy.
Elsewhere, the pound lost some of its resilience against the dollar, as GBP/USD tumbled to a session low of $1.2466, after UK manufacturing activity slowed in March.
Financial data company Markit said its purchasing managers' index (PMI) slipped to 54.2 from a downwardly revised 54.5 in February.
EUR/USD traded flat at $1.0661, as investors worried that the anti-EU candidate Marine Le Pen could emerge victorious in a two-round presidential election at the end of this month and the start of May.
USD/JPY slumped 0.31% to 111.05, while USD/CAD gained 0.53% to $1.3389.