Monitoring Stock Activity on Tablet
Markets

Dollar little changed vs. rivals in quiet trade

Investing.com -

Investing.com - The dollar little changed against the other major currencies in quiet trade on Monday, as comments by a Federal Reserve official sparked fresh speculation over a potential rate hike in the near future.

EUR/USD slipped 0.12% to 1.1222.

The dollar found support late Friday after Boston Fed President Eric Rosengren said that low interest rates are increasing the chance of overheating the U.S. economy.

He added that gradually tightening monetary policy is appropriate to maintaining full employment.

Market participants were looking ahead to a speech from FOMC voting member Lael Brainard due later on Monday for further hints on a potential interest rate increase.

Meanwhile, the single currency remained mildly supported after the European Central Bank held back from adding additional stimulus measures last week and left interest rates on hold.

GBP/USD edged up 0.11% to 1.3283.

USD/JPY dropped 0.80% to 101.90, while USD/CHF eased 0.09% to 0.9745.

The Australian and New Zealand dollars were weaker, with AUD/USD down 0.36% at 0.7515 and with NZD/USD slipping 0.19% to 0.7309.

Elsewhere, USD/CAD gained 0.49% to trade at 1.3113, the highest since September 1.

The commodity currencies were hit by tumbling oil prices on Monday due to an increase in oil drilling activity in the US.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was steady at 95.31.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com apps for Android and iOS! http://glocdn.investing.com/news/LYNXMPEB2U113_M.jpg

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx