Dollar in narrow range ahead of U.S. election, pound weakens

Indeed, the United States posted nearly 87,000 cases on Saturday and record hospitalisations in Midwestern states.

The risk-sensitive Australian dollar also took a hit from global coronavirus concerns, last trading at $0.6999 after slipping to its lowest since July at $0.6997.

The greenback was little changed against the yen at 104.72 yen, away from a five-week trough of 104.02 hit on Thursday.

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"Dollar/yen will likely remain quiet for today and tomorrow, due to the election," Daiwa Securities chief FX strategist Mitsuo Imaizumi said, but added any dispute over vote count could lead to volatility.

Chinese yuan last sat at 6.6883 per dollar, as China's factory activity data, both private and official, were above analysts' expectations.

Besides the U.S. presidential election, this week is filled with economic data, including PMI data from the United States, euro zone and elsewhere, as well as U.S. non-farm payrolls and Chinese trade.

Three central banks are also due to announce policy decisions this week. The Reserve Bank of Australia meets on Tuesday, while the Bank of England and U.S. Federal Reserve deliver their decisions on Thursday.

 

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