Currencies flat as dollar falls

Currencies flat as dollar falls

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Major currencies, although they were up in relation to the dollar, remained little-changed otherwise on Monday.

Sterling was flat in relation to the euro and slightly lower against the yen.

The yen, in turn, was somewhat higher in relation to the euro.

The U.S. dollar fell in relation to the euro, sterling, the Swiss franc, the yen, and the Canadian dollar on Monday, and analysts say this likely signals an end to a month-long rally in the value of the dollar.

Analysts said that data showed that by April 5 short positions in the dollar had fallen to their February 8 levels.

This was the point at which an early-year rally in the dollar ended. This implied, they said, that recent rally in the dollar was spurred by the liquidation of short-dollar positions.

New U.S. trade data, set to be released on Tuesday, is not expected to change the dollar’s position in any substantial way.