Investing.com - The dollar was broadly higher against the other
major currencies on Monday, as Federal Reserve Chair Janet Yellen's
upbeat comments on Friday boosted demand for the greenback.
The dollar strengthened broadly after Fed Chair Janet Yellen
said on Friday that the U.S. economy is recovering and added the
labor market is improving as well.
Ms. Yellen was speaking at the Fed's annual meeting of top
central bankers and economists in Jackson Hole, Wyoming.
EUR/USD dropped 0.30% to 1.3200, after European Central
Bank President Mario Draghi told the Jackson Hole gathering that
the central bank is ready to take more unconventional action if
needed to stimulate a sluggish euro zone economy.
Earlier Monday, the German research institute Ifo said its
Business Climate Index fell to a more than one-year low of 106.3
this month, below forecasts for 107.0 and down from a reading of
108.0 in July.
The weak data dampened optimism over the health of the euro
zone's largest economy.
The pound held steady, near five-month lows with GBP/USD at
The dollar was little changed against the yen, with USD/JPY at
103.97, and higher against the Swiss franc, with USD/CHF up
0.24% to 0.9159.
Meanwhile, AUD/USD dipped 0.01% to 0.9315 and
NZD/USD retreated 0.43% to 0.8366, while USD/CAD inched
up 0.06% to 1.0952.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, was up
0.20% at 82.54, the highest since September.
Later in the day, the U.S. was to release data on new home
offers an extensive set of professional tools for the financial
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