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From Standard & Poor's Equity ResearchThe dollar remained largely under pressure in a holiday-shortened session, as the unit lost ground following weaker than expected ISM and construction spending data, says Action Economics. Ahead of the July 4 U.S. holiday, activity overall was light, and downside follow through was ultimately limited.
Looking ahead, when N.Y. dealers return from holiday on Wednesday, they will likely focus their attention on events later in the week, including of course, the European Central Bank's policy meeting on Thursday, and the June U.S. employment report on Friday.