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The dollar rose to its highest level in three weeks against the euro on Monday, helped by a rebound in U.S. manufacturing activity. As the pound rises, the British Parliament will vote on another exit plan.
The Institute for Supply Management (ISM) announced Monday that the manufacturing index rose to 55.3 in March and 54.2 in February, the lowest since November 2016.
Another report showed that retail sales fell by 0.2% in February, as households in the United States reduced their purchases of furniture, clothing, food, electronics and appliances, as well as building materials and gardening equipment. Retail sales rose 0.7% in January, up from 0.2% previously announced.
The dollar fell briefly after the release of retail sales data, recovered its losses, and then rose on the back of manufacturing data.
Retail sales data were upgraded in January, which may help the dollar because "people get some comfort from it, although I think the data may be negative for the U.S. economy as a whole," said Erik Nelson, currency strategist at Wells Fargo Bank.
A weakening U.S. economy will also lead to lower stock markets, boosting the dollar, Nelson said. "That's what we've seen in the past year or so."
Meanwhile, the overall and core inflation of the eurozone slowed down in March, supporting the ECB's decision to postpone its monetary policy tightening plan.
The pound rose as Parliament tried again to seize control of Britain's withdrawal from Europe, and some hoped to end the uncertainty by eventually adopting a more modest plan than Britain's Prime Minister Teresa May's failed withdrawal agreement.
Commodity currencies, including the Australian dollar, rose after China's manufacturing activity unexpectedly increased for the first time in four months in March, suggesting that government stimulus measures may begin to work in the world's second largest economy.


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