The dollar fell on Monday while the euro led gains by strengthening half a percent, though currency markets lacked clear direction as surging coronavirus cases kept economic optimism in check.
FILE PHOTO: Rolled Euro banknotes are placed on U.S. Dollar banknotes in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration
Elsewhere, profits at China’s industrial firms rose for the first time in six months in May, suggesting the country’s economic recovery is gaining traction - but the news did little to support oil prices. Having fallen more than 1% this month, the dollar is on track for its biggest monthly loss since December 2019.
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