World stocks reversed earlier losses and the dollar slid on Monday as investors shrugged off worries that rising coronavirus infections in parts of Europe and the United States over the weekend could scupper a quick economic rebound.
The U.S. currency gained more than 0.2% against a basket of currencies, as risk sentiment soured in early trading in Europe.
Against a basket of currencies, the dollar index was up 0.27% at 97.686 while the euro lost 0.3% at $1.1209.
Following a Monday slide, the greenback was steady on most majors and clung on near a two-week low against a basket of currencies , tracking the mood in equity markets.
Risk sentiment was also undermined after Federal Reserve officials expressed concern that rising coronavirus cases could harm economic growth just as stimulus measures start to expire.
The U.S. dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency.
Despite previous efforts to control the currency depreciation, the Lebanese pound sold for more than 6,000 to the dollar Thursday on the black market, down from 4,000 in recent days.
Gold struck a seven-year pinnacle above $1,700 an ounce on Tuesday as massive Fed stimulus floods markets with dollars, weakening the greenback and sending investors running to the precious metal, analysts said.
The dollar was marginally higher in narrow ranges against most currencies on Tuesday as renewed concerns about diplomatic tension between the United States and China and rising coronavirus cases put a dent in risk appetite.
Brent crude futures climbed 2 cents, or 0.1%, to $43.43 a barrel at 0423 GMT while U.S. West Texas Intermediate (WTI) crude futures fell 7 cents, or 0.2%, to $41.53 a barrel. Both benchmarks rose as much as 0.5% earlier in the session.