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Dollar steady, sterling pushes higher

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Investing.com -

Investing.com - The dollar was steady against a basket of other major currencies on Monday, while the pound strengthened after Bank of England Governor Mark Carney said interest rates could rise before wage growth picks up.

GBP/USD was up 0.23% to 1.6730 from 1.6691 late Friday.

Sterling strengthened after Carney said that the bank did not have to wait for wage growth to recover before raising interest rates, shifting away from comments last week indicating the opposite.

Investors were looking ahead to Wednesday's minutes of the BoE's August policy meeting for indications that the bank is moving closer to hiking borrowing costs.

Elsewhere, EUR/USD dipped 0.12% to 1.3384.

Investors were cautiously optimistic that a meeting due to take place between Russian and Ukraine's foreign ministers later in the day would result in a breakthrough to ease geopolitical tensions in the region.

The dollar pushed higher against the yen and the Swiss franc, with USD/JPY easing up 0.11% to 102.46 and USD/CHF climbing 0.23% to 0.9044.

The Australian and New Zealand dollars were little changed, with AUD/USD edging down 0.06% to 0.9313 and NZD/USD dipping 0.08% to 0.8477. USD/CAD was down 0.12% to 1.0884.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, inched up 0.05% to 81.51.

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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.

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