Dollar drops against euro, sterling in U.S. holiday trading
As investors sought protection on Monday due to concerns about a slowdown in the global economy, the dollar kept trade-sensitive currencies trapped near multi-year lows, and the euro was under pressure as a result.
The global risk sentiment has improved, which contributed to the rise of the euro and the pound sterling against the dollar on Monday during a trading session that was relatively quiet because of a holiday in the United States.
The financial markets in the United States were closed on July 4 in observance of Independence Day. As a result, investors anticipated a slow trading day on global markets, with significant currencies gaining some ground against the United States dollar, which had reached its highest level in two weeks on Friday.
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