The dollar held near a one-week high against its major peers on Monday as traders weighed the impact of protracted monetary tightening cycles on the global growth outlook and as worries over a deep downturn in major economies lingered.
fell to a three-month low in June and the contraction in the manufacturing sector deepened, though the overall picture indicated economic growth ticked up a notch in the second quarter.
"The aggressive monetary tightening in the major economies ... will likely continue to see the global economy continue to deteriorate, which will underpin the safe haven U.S. dollar."
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