2021.08.0220:15:00UTC+00U.S. Dollar Climbs Off Worst Levels But Remains Modestly Lower

The value of the U.S. dollar has climbed off its worst levels of the day but continues to see modest weakness during trading on Monday.

Currently, the U.S. dollar index is trading at 92.07, down 0.1 percent from the previous close but off its low of 91.91.

The greenback is currently is trading at 109.31 yen versus the 109.72 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1871 compared to last Friday's $1.1870.

In U.S. economic news, a report from the Institute for Supply Management showed an unexpected slowdown in the pace of growth in U.S. manufacturing activity in the month of July.

The ISM said its manufacturing PMI dipped to 59.5 in July from 60.6 in June. While a reading above 50 still indicates growth in the manufacturing sector, economists had expected the index to inch up to 60.9.

A separate report from the Commerce Department showed construction spending crept up by less than expected in the month of June.

Later this week, trading may be impacted by reaction to the Labor Department's closely watched report on the employment situation in the month of July.

Economists currently expect employment to spike by about 900,000 jobs in July after surging by 850,000 jobs in June. The unemployment rate is expected to dip to 5.7 percent from 5.9 percent.