(Reuters) The dollar edged up from its lowest level in more than a year on Monday, assisted by stronger-than-expected readings on the U.S. economy, as investors continued to watch developments on U.S. President Donald Trump’s inner circle’s possible ties to Russia.
Having exceeded a number of important technical levels last week, investors are now looking to reprice the dollar in the current environment, particularly on the dollar/euro trade, analysts said.
“When we start trading at this relatively unknown area for the dollar and euro you’re starting to look for … whether there could be a selloff and some profit taking,” said John Doyle, director of markets at Monex Inc in Washington.
“So today, even though data was second tier, it’s not the biggest thing in the world, it is a little bit better. It was an opportunity sell the euro, buy dollars and take a little profit.”
