NEW YORK, Aug 5 (Reuters) - The dollar pared losses versus the Japanese yen and extended gains versus the euro on Monday after data showed the pace of growth in the U.S. services sector accelerated in July, picking up from a three-year low as new orders surged.
New orders rose to their highest in five months, an industry report showed on Monday.
The report likely added to views that economic growth will strengthen in the latter half of the year, as last week’s ISM manufacturing report showed the sector’s growth hit a two-year high in July.
The dollar last traded down 0.2 percent at 98.74 yen. It had been trading at about 98.58 before the data.
The euro last traded down 0.3 percent at $1.3238. It had been trading at around $1.3248 before the data.