The euro remained within its recent trading range against the dollar on Monday, its progress capped by expectations for a dovish European Central Bank meeting next week and after investors turned more bearish on the currency.
Foreign exchange markets were quiet on Monday and volatility low ahead of major central bank policy meetings next week. The Australian dollar – enjoying a boost from encouraging Chinese economic data – was the only real mover.
The euro EUROEBS was up 0.08% at $1.1281, still within the recent range of $1.14 to $1.11.
An index that tracks the dollar against a basket of six other major currencies .DXY was flat at 96.761.
Elsewhere, the Australian dollar reached a 10-day high on stronger-than-expected economic data from China, which some analysts saw as signaling that moves to revive spending in the world’s second-biggest economy are working.
China’s industrial output rebounded in June from a 17-year low in May. June retail sales surged 9.8% from a year earlier. The Chinese economy grew at the slowest rate in nearly 30 years, though this was expected.
The Aussie AUDOD3 gained 0.2% to $0.7037 against the U.S. dollar, its highest since July 4.
China’s offshore yuan was up 0.1% to 6.8742 yuan per dollar CNHOEBS.
Sterling was lower by 0.1% at $1.2565 GBPOD3and by 0.2% against the euro to 89.81 pence EURGBP=D3.