The U.S. dollar has seen lackluster trading in Monday afternoon action in New York.
The greenback attempted to rebound early in the day, recovering losses seen late last week. However, a downward drift has been renewed lately. The currency remains off an all-time low versus the yen that it set late last week, but has set a new six-week low against the pound.
There is no major economic news to drive trading on Monday. Later in the week, a number of key reports are due out. These include releases on new home sales, durable goods orders and personal income and spending.
The greenback has seen weakness lately on speculation that European officials will be able to fix the sovereign-debt crisis that has afflicted the euro-zone. Also, there has been speculation that further stimulus action will be taken to prop up the U.S. economy, putting pressure on the currency.
The dollar has bounced around versus the euro. The greenback reached 1.3953 early in the day, and touched its lowest point since the first half of September, before cutting its recent losses with a slight upward move. There has been a renewed decline lately, though the dollar has yet to reach its previous mark. The pair is sitting at 1.3937.
After a brief attempt at a recovery earlier in the day, the greenback has been drifting lower versus the pound. The dollar ticked beyond 1.60 against the U.K. currency, reaching its lowest level since September 8. The pair is sitting just off that mark now, at 1.5994.
There has been a drift lower versus the yen as well. The dollar set a new low against the Japanese currency last week, hitting 75.778. It remains off that level now, trading at 75.995.