Dollar operates under pressure after G-7, hit by rising shares

The dollar weakened on Monday after a meeting of the G7 over the weekend reaffirmed the view that market officials are comfortable with a gradual fall of the dollar.
This trend was encouraged by the resilience of global equity markets.
The biggest beneficiary was the Australia dollar, which was also boosted by the growing speculation that the Reserve Bank of Australia this week could raise interest rates, becoming the first major economy to adjust liquidity.
Global stocks were held on Monday despite a weak U.S. jobs report that was disclosed on Friday.
The weak jobs data suggest that U.S. monetary policy will remain very flexible, encouraging traders to buy currencies perceived as more risky assets like stocks as well.

"The risk was recovered strongly enough (...) and that leads to a general weakening of the dollar today. The market wants accumulate 'risk positions' again," said Geoff Kendrick, currency strategist at UBS in London."The G-7 may have been a red light (to sell dollars), but no change," he added.
Following a meeting of finance chiefs from Group of Seven held in Istanbul, traders were betting on a further weakening of the dollar, which serves to resolve imbalances between consumers and indebted countries like the U.S., and producing nations and saving like China.
At 1044 GMT, the dollar index, a measure of performance of the currency against six major currencies, fell 0.25 percent to 76.85.

The euro rose 0.4 percent to $ 1.4620, supported in part by a gain of 0.4 percent in European equities, while stock futures in the United States totaled 0.5 percent.The euro recovered after falling below $ 1.45 on Friday when it was announced that nonfarm payrolls fell by U.S. 263,000 in September, prompting a wave of dollar buying as a safe haven.
The market was also the expectation of monetary policy announcements made on Thursday the European Central Bank (ECB) and Bank of England.