By V. Phani Kumar, MarketWatch
LONDON (MarketWatch)—The U.S. dollar traded in a narrow range against major rivals on Monday.
The ICE dollar index DXY +0.08% , which measures the greenback’s performance against a basket of six major global currencies, was at 78.921 from 78.973 in late North American trade on Friday.
The euro EURUSD -0.31% was flat against the dollar, meanwhile, to fetch $1.3342, compared with $1.3341 late Friday.
The British pound GBPUSD +0.01% was buying $1.6036, up from $1.6001 Friday.
Against the Japanese unit, the greenback USDJPY -0.56% was changing hands at ÂĄ83.68, from ÂĄ82.83 Friday. The euro EURJPY -0.84% traded at ÂĄ110.33 from ÂĄ110.64.
In Tokyo, the Bank of Japan tankan survey’s headline index for large manufacturers’ sentiment dropped to -4, below median expectations for a -1 result. Tankan findings
“The downside surprise for large manufacturers may be less an indication of weak sentiment and more an indication of expectations for exchange rates,” Barclays economists said in a report, adding that the results overall were consistent with their expectation for an economic recovery.
The survey’s dollar-yen assumption by large manufacturers came to ¥78.14, “suggesting business plans are conservative relative to the current spot rate,” Barclays said.
Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau.
