Summary The dollar Monday retreated against the euro and the yen as traders eye Greek talks.
NEW YORK (AFP) - The dollar Monday retreated against the euro and the yen in a move attributed to profit-taking after Friday s surge.
The greenback rallied Friday after the Labor Department reported the US economy added a surprisingly lofty 257,000 jobs in January and raised its tally the prior two months. There were no major US data releases Monday.
"Considering the lack of negative news flow, today s pullback represents nothing more than profit taking after strong gains on Friday," said a note from analyst Kathy Lien of BK Asset Management.
Lien said trade in the euro will remain tied to the perception of the likelihood of a deal between Greece and the eurozone and other lenders that would avert a Greek default.
The euro should advance this week if eurozone meetings show progress, Lien said.
"However if Greece and Europe continue to play their game of chicken waiting to see who blinks first, the threats from both sides will keep the euro under pressure," she said.
