Dollar falls but places near multi-month highs
The dollar fell in Asian trade on Monday but lingered near its strongest level since early April 2021 versus the euro. Investors are now anticipating the U.S. Federal Reserve’s new policy decision set to be released on Wednesday.
The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.07% crash to 92.862. The index placed slightly below last week’s three-and-a-half-month high of 93.194 but was up about 3.8% from its recent low on May 25.
The USD/JPY pair shed 0.18% to 110.34, close to last Friday’s highest record since July 14 of 110.58.
The AUD/USD pair slid 0.20% to 0.7349, while the NZD/USD pair was also down 0.01% to 0.6970.
The USD/CNY pair gained 0.03% to 6.4827, and the GBP/USD pair rose 0.02% to 1.3748.
The greenback last traded at $1.17655 per euro near the previous week’s high of $1.1752. It is expected to perform well throughout the week following anticipations of the Fed’s asset tapering.