Dollars Gain Strength In Asian Trade

The greenback posted modest gains in Asian trade as traders braced for data that may shed new light on the extent of the US economic slowdown.

Speculators adjusted positions following heavy selling of the US currency on Friday as traders bet on steady eurozone interest rates and mulled news of a big quarterly loss at US insurance giant AIG. Many are looking ahead of a batch of US economic indicators due this week, including retail sales Tuesday, consumer price inflation on Wednesday and housing starts on Friday.

Markets will be sensitive to the data and can turn either optimistic or gloomy on the outlook.

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