The dollar held steady on Monday as, on the one hand, China disappoints, and on the other, traders look to the Jackson Hole meeting.

The dollar held steady on Monday after five consecutive weeks of rising, as investors look to the Federal Reserve's Jackson Hole symposium for guidance on how interest rates will move when the dust from this rising cycle clears. The greenback gained 0.7% against the euro last week, rose against the yen, and jumped more than 1% against the Antipodes currencies as US Treasury yields surged in the hope that interest rates would stay on the rise longer

The Australian dollar, at $0.6402, and the New Zealand dollar, at $0.5919, remained near last week's lows, after a drop in interest rates in China disappointed markets worried about the economic slowdown.

The yuan slipped to the weak side of 7.3 per dollar despite the central bank setting its trading range firmly.

Like the yuan, the yen is also the subject of interventions, having fallen to levels around which the authorities intervened last year. It was stable at $145.44 in the first European exchanges

The euro rose to 1,0885 dollars. The pound sterling remained at 1.2726 dollars. The Swiss franc was just above a six-week low of 0.88 per dollar last week

The dollar index, which measures the currency against six other major currencies, was down 0.06% at 103.33, near the two-month high of 103.68 on Friday.