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Dollar recovers against major currencies
Last Updated:2013-08-13 07:31 | Xinhua
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The U.S. dollar rebounded against major currencies on Monday as investors anticipating incoming U.S. economic data to outperform expectations this week.

The greenback dropped against its major peers broadly last week amid growing uncertainties about when the Federal Reserve would start to taper its monetary easing measures.

U.S. retail sales data for July is scheduled to be released on Tuesday and investors expect the data to be positive. Other data to be released this week include the consumer price index and empire state manufacturing report

Japanese yen fell versus the dollar on Japan's weaker-than- expected gross domestic product data.

Japan's economy grew at an annualized pace of 2.6 percent in the second quarter of 2013, lower than the market forecast of a 3. 2-percent increase, according to a preliminary report released Monday by the Japanese government.

Several Fed officials last week said they believed the U.S. central bank could begin trimming its asset purchases program later this year but the Fed didn't give a hint of its tapering timeframe after its latest policy meeting.

In late New York trading, the euro fell to 1.3310 dollars from 1.3340 dollars of the previous session and the British pound decreased to 1.5472 dollars from 1.5513 dollars. The Australian dollar slipped to 0.9256 dollars from 0.9213 dollars.

The dollar bought 96.68 Japanese yen, higher than 96.33 yen of the previous session. It edged up to 0.9251 Swiss francs from 0. 9225 Swiss francs and went up to 1.0295 Canadian dollars from 1. 0277 Canadian dollars.

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