Investing.com - The dollar was little changed against the other major currencies on Monday, after data showed that U.S. personal spending declined for the first time in 20 months in December and as investors eyed an upcoming report on U.S. manufacturing activity.
In a report, the Commerce Department said that personal spending fell 0.3% in December, worse than expectations for a decline of 0.2%. Personal spending rose 0.5% in November, whose figure was revised down from a previously reported gain of 0.6%.
The report also showed personal income rose 0.3% in December, above forecasts for 0.2% and after gaining 0.3% in November.
Sentiment on the greenback became vulnerable on Friday after the Commerce Department said in a report that the U.S. economy expanded 2.6% in the final three months of 2014, below expectations for a 3.0% gain and slowing sharply from growth of 5.0% in the three months to September.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 95.03.
EUR/USD rose 0.26% to 1.1315.
The eurp remained supported by hopes that Greece’s new government would be able to reach a compromise with its international creditors on the terms of its bailout.
Also Monday, data showed that the final euro zone manufacturing purchasing managers' index rose to 51.0 in January from 50.6 in December. Activity France, Italy and Greece declined, while activity in Germany slowed from the previous month, underlining concerns over the weak recovery.
The pound slid lower, with GBP/USD down 0.29% to 1.5022, even as Markit said that its U.K. manufacturing PMI rose to 53.0 last month from a reading of 52.5 in December. Analysts had expected the index to inch up to 52.6 in January.
Elsewhere, USD/CHF rallied 1.22% to trade at 0.9313 and EUR/CHF jumped 1.35% to 1.0530 following reports the Swiss National Bank was unofficially targeting an exchange rate of 1.05 to 1.10 francs per euro. The central bank declined to comment on the report.
Figures from the SNB on Monday showed that sight deposits jumped to 383.32 billion francs last week after an 8% increase in the previous week to 365.48 billion francs. The data indicated that the bank has been purchasing foreign currency in the market.
Meanwhile, USD/JPY edged up 0.11% to 117.62.
The Australian and New Zealand dollars were higher, with AUD/USD rising 0.32% to 0.7791 and NZD/USD added 0.19% to 0.7268.
The Canadian dollar pulled away from last week's six-year lows, with USD/CAD sliding 0.40% to 1.2681.
Later in the day, the Institute of Supply Management was also to release data on manufacturing activity.