The dollar drifted lower against major currencies on Monday, pressured by falling US Treasury yields as investors continue to mull the mixed bag of recent economic data.

The dollar index, a gauge of the US currency's strength against six rivals, fell to 80.006 versus 80.043 on Friday as markets try to assess the underlying strength of the US economic recovery.

Investors will be keen to read minutes later this week of the Federal Reserve's April 29-30th policy meeting. A private survey on China's manufacturing sector for May is also due later this week.

The euro changed hands at $1.3711 from $1.3702 the previous session, recovering from last week's weakness, as investors continue to bet that the European Central Bank is preparing to loosen monetary conditions even further.

The British pound was hardly changed from Friday's $1.6822 ahead of the start of the European Parliament elections in UK.

The dollar bought ¥101.42 from ¥101.52 on Friday pressured by falling US Treasury yields as uncertainty about economic growth prospects continue to hurt investor confidence.




CJ

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