After a particularly strong week last week, the dollar finished Friday on a weaker note after poor PMI data.
The data showed that both manufacturing and services industries stalled in February, largely due to increasing concerns over the coronavirus. Services dropped to 49.4, the lowest since October 2013, whilst manufacturing just escaped contraction territory at 50.8, the lowest reading since August.
However, fresh news about the coronavirus has boosted the dollar this morning due to its safe-haven appeal. The number of cases in South Korea and Italy have jumped.
This week is another important week for US data, with GDP figures on Thursday and Personal Income data on Friday.
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