The slow movement of the currency continued until the European session, with the greenback dollar continuing to trade around the same price against most major currencies.
At the time of writing, the dollar index is trading at 90.27 against its main competitor. The 10 -year US treasury yield remained stable at 1.62%.
Mixed sentiment in the market restrained the movement of the currency from moving more aggressively.
US retail sales data readings, which disappointed market expectations, have provided an opportunity for most major currencies to rise higher since last Friday.
US retail sales showed no growth in April, down from 10.7% previously recorded. While core sales fell by 0.8% from a 9.0% increase in the previous month.
This led to market speculation for the Federal Reserve (Fed) to tighten its monetary policy amid rising, declining inflationary pressures.
The slowdown in the economic recovery does not seem to be focused on the US alone, moreover China also displayed slower growth in retail sales data published in the Asian session earlier.
This indicates that the global economic recovery remains volatile and uneven, compounded by an increasingly alarming increase in cases in India.
The publication of the minutes report of the FOMC meeting on Thursday will be the main focus of the market to get clues on the current monetary policy easing.
