The US dollar stabilized on Monday after suffering its worst weekly decline this year, while weak Chinese growth data weighed on the yuan.
The US dollar index, which tracks the dollar against a basket of six major currencies, was marginally lower at 99,597 after falling 2.2% last week, its biggest one-week decline since November.
According to “Reuters,” the US dollar index fell by 2.2% last week, its largest decline in one week since November, and settled at 99.936 in the Asian session.
The yen, which jumped 2.4% last week to a 16-month high, stayed just below that peak of $1.1223.
Chinese growth data fell on Monday, but without triggering much of a currency market response as traders had already priced in the sluggish quarter and were waiting to see if the government ramped up stimulus to boost spending.
The Australian and New Zealand dollars both decreased slightly, with the Australian dollar falling from its peak of $0.6895 last week to $0.6821 today.
