The US dollar ended a subdued Asian session on a slightly softer note with its direction largely a consequence of players covering positions in the face of a light US data calendar this week, dealers said Dealers said the only notable US economic indicators due this week are existing home sales for July due on Tuesday, and durable goods orders and new home sales for July on Wednesday, which are expected to show mild pullbacks from June levels Wong Keng Siong, Singapore-based economist at the Bank of Tokyo-Mitsubishi, said in a daily note that the US dollar remains supported on the view that the Federal Reserve will continue raising US interest rates "We think that the greenback is heading into a somewhat difficult week, especially vis-a-vis the Japanese yen, with the latter likely to trade at 109.50-111.50 yen to the dollar "The main reason is that the US economic calendar would be moving into light mode, as durable goods on Wednesday is the only indicator that could draw much market excitement," Wong said Instead, investors are expecting data out of Europe this week to perhaps offer greater insight with the focus on the UK's final second quarter gross domestic product, due for release this Friday Germany's ZEW and IFO surveys for August, due on Tuesday and Thursday respectively, might also give traders some idea of euro strength as the data show activity in the euro-zone's largest economy. Euro-dollar saw a slow start to the Asian session and then climbed above its 1.2168 usd Friday closing levels to reach 1.2187 usd in the morning. Demand was initially seen from US accounts, driving the pair higher but strong euro selling was also reported throughout, hampering the move, with the pair trading in a narrow range between 1.2175 and 1.2192 in the afternoon "With calendar of events and data unlikely to provide much direction this week, technical trading is likely to drive the US dollar once again. The euro-dollar is likely to trade within 1.2000 to 1.2250 usd," strategists at Singapore's United Overseas Bank said Dollar-yen also saw a slow start, with the pair reaching an early high of 110.56 yen when some players took aim at stops above 110.85 yen. The attempt ran into strong selling ahead of the stops, most notably near 110.70 yen and subsequent selling by US accounts triggered a long squeeze down toward 110.35. The dollar traded near its session lows against the yen through the afternoon in generally light flows, as yen demand was also driven by gains in the domestic stock market