SINGAPORE, June 26 Reuters The dollar was on the back foot on Monday, though it found some safe haven support on lingering worries that the protracted monetary tightening cycles from major central banks would further hurt the global economic outlook.

Dramatic weekend events in Russia also kept investors on guard, though reaction in the currency market was subdued as they assessed the implications of the aborted mutiny.

The euro pared some of its losses from last week and was up 0.05 to 1.0901 in Asia trade.

The single currency had fallen to a oneweek low on Friday after data showed that euro zone business growth virtually stalled in June amid a deepening downturn in manufacturing activity and a slow expansion of the bloc39;s dominant services industry.

Sterling rose 0.11 to 1.2730, reversing some of its 0.8 fall last week after an outsized 50basispoint rate increase from the Bank of England stoked fears of a British recession.

Flash Purchasing Managers39; Index PMI data on Friday showed Britain39;s economy displayed signs of a slowdown this month but inflation pressures stayed high.

Meanwhile, U.S. business activity fell to a threemonth low in June and the contraction in the manufacturing sector deepened, though the overall picture indicated economic growth ticked up a notch in the second quarter.

Again, there was another set of weak PMI data coming out of Europe, said Carol Kong, a currency strategist at Commonwealth Bank of Australia CBA. By contrast, PMI data…