Dollar Declines Against Major Currencies

London: The US dollar declined against all major currencies during trading on Monday, as the optimism following the release of a strong US jobs report gave way to caution ahead of the launch of high-level trade talks between the United States and China in London. According to Yemen News Agency, the US dollar index, which measures the currency's performance against six major currencies, fell 0.07% to 99.045 points, amid a slight decline in US Treasury yields, following last Friday's gains. The Japanese yen gained 0.31% to 144.425 yen against the dollar, supported by data showing that the Japanese economy contracted at a slower-than-expected pace during the January-March period. The euro rose 0.18% to $1.1417, driven by market pricing in the European Central Bank's hawkish monetary policy stance, which was confirmed last week. The Swiss franc also rose 0.17% to $0.8209 against the dollar, and the pound sterling rose 0.27% to $1.3555. In Asian currencies, the offshore Chinese yuan traded at 7.187 against the dollar after data showed Chinese export growth slowed to a three-month low and producer price deflation worsened to its worst level in two years. The New Zealand dollar held steady at $0.6037, while the Australian dollar rose 0.25% to $0.6511 in light trading due to Australian markets being closed for a public holiday.