Here's a report from the AFP:
Dollar sags ahead of US economic data
Mon Feb 26, 5:19 PM ET
The dollar traded mainly lower Monday as the market braced for fresh data expected to show a slowdown in the US economy, and monitored tensions over Iran's nuclear ambitions, dealers said.
The euro rose to 1.3185 dollars at 2200 GMT from 1.3170 dollars late in New York on Friday, after earlier reaching a high of 1.3199 dollars, its highest level since January 3.
The dollar fell to 120.59 yen, from 120.98 yen on Friday.
Jordan Eburne at PNC Bank said the dollar was under pressure "ahead of this week's slew of consumer data that is expected to show a slowdown in the US economy."
The market awaited data on consumer confidence and durable goods orders Tuesday, and several reports this week on the housing market.
On Wednesday, US growth for the fourth quarter is expected to be downgraded to 2.3 percent from the 3.5 percent first estimate, analysts predicted.
The market was also affected by concerns about geopolitics, specifically Iran.
"The dollar is facing moderate pressure as players are cautious about holding long positions on the dollar as the Iran situation has become shaky again," said Ryohei Muramatsu with Commerz Bank.
The dollar was hit by renewed concern about Iran as six key world powers grappling to contain the country's nuclear ambitions held talks Monday in London on how to increase pressure on Tehran.
Do you still think Bush won't bomb Iran?
