US dollar lost ground in European trade against a basket of major rivals on track for the first loss in four days as risk appetite improves, hurting haven demand on the greenback, 

The dollar index fell 0.4% to 97.11, after closing up 0.1% on Friday, the third profit in a row. 

The dollar index marked a 0.2% loss last week, the first weekly loss in three on hopes for achieving quick global recovery from the coronavirus pandemic. 

Most global stocks rose today on hopes that highly infected countries such as the US, Brazil, and India would control the outbreak eventually similar to Europe and China. 

The hopes coincide with massive monetary and financial stimuli by major economies with growth expected to be back later this year. 

Sterling rose in European trade away from four-week lows against the greenback, as the dollar index retreats ahead of data and speeches by BoE officials. 

GBP/USD rose 0.4% to 1.2389, after closing down 0.7% on Friday, marking four-week lows at 1.2314. 

Sterling lost 0.1% last week against dollar, the third weekly loss in a row on doubts on whether Britain can manage a trade deal with the EU before the end of the Brexit transition period. 

The dollar index fell 0.2% on Monday on track for the first loss in four days on improving risk appetite, hurting the appeal of the greenback. 

External BOE MPC Member Gertjan Vlieghe will deliver a speech titled "Observed macroeconomic tail risk and asset prices: new long term evidence" at the BOE's Asset Pricing Workshop, via satellite. 

Euro rose in Asian trade off June 3 lows against the dollar ahead of European and US data today while investors assess the continuing spread of the coronavirus, especially in the US. 

As of 05:26 GMT, EUR/USD rose 0.22% to 1.1248, with an intraday high at 1.1249. 

From Germany, consumer prices are expected up 0.3% in June, while Spain's prices are expected down 0.9%. 

From the US, pending home sales are expected down 15% in May, while markets await testimonies by Fed Chair Jerome Powell and US Treasury Secretary Steven Mnuchin on Wednesday ahead of Parliament. 

According to latest World Health Organization data, 10.1 million people worldwide have contracted Covid 90 with the death toll standing at over half a million. 

The WHO warned the virus hasn't reached its peak yet with the spread continuing despite slowing down in Europe.. while asserting the world shouldn't come back to the way it was after the pandemic in regard to the environment and climate change and other natural challenges. 

US stock indices opened Friday 1% lower under pressure from the banking sector and new restrictions by the Fed after some banks failed the pressure test last Thursday. 

The Federal Reserve allowed banks to suspend dividends for the third quarter and for further quarters if needed. 

Regulators have expressed previously interest in lifting some restrictions put on the banking sector following the world financial crisis in 2008. 

Uncertainty spreads over a second coronavirus wave as infections spike anew, while the World Health Organization warned the peak hasn't been reached yet. 

Dow Jones opened 1.6% lower to 25,336, while NASDAQ shed 1.5% to 9,870, as S&P 500 tumbled 1.3% to 3,043.