Dollar mixed against rivals
The greenback falls against the euro and pound, but holds up versus yen, after a meeting of global finance ministers comes up short of expectations.
NEW YORK (CNNMoney.com) -- The dollar was mixed against its main trading partners Monday as stocks rebounded on a statement from the Group of Seven major economies.
After meeting in Istanbul over the weekend, the G7 said in a statement that "excess volatility and disorderly movements in exchange rates have adverse implications for economic and financial stability."
The comments echoed a statement made at the previous G7 meeting in June. Some analysts had expected the group to issue stronger language in support of the dollar, which has declined nearly 10% against a basket of currencies since March.
Looking ahead, the dollar is expected remain weak for the rest of the year, according to Camilla Sutton, a currency strategist at Scotia Capital in Toronto.
"The U.S. dollar continues to be pressured slowly lower as there are ongoing market worries over deficit levels and global imbalances," Sutton wrote in a research report.
In a report released at 10 a.m. ET, the Institute for Supply Management said its non-manufacturing index rose to 50.9 last month from 48.4 in August. Economists surveyed by Briefing.com had expected a reading of 50, the point at which the index reflects expansion.
Stocks closed higher Monday, with the Dow, S&P 500 and Nasdaq all gaining at least 1%, after a two-week selloff.
Investors are bracing for a wave of third-quarter corporate financial statements, which begins Wednesday with aluminum producer Alcoa (AA, Fortune 500).
Earnings in the second quarter were generally stronger-than-expected as companies drastically cut back on costs and analysts had reduced estimates. Now, the market is looking for signs that economic conditions in the third quarter improved on a more fundamental basis.
The dollar was down 0.3% against the euro to $1.4653. It was also down 0.3% versus the pound, at $1.5940. Against the Japanese yen, the dollar inched up 0.1% to ¥89.55. 
