Dollar rises on investor risk aversion
The dollar posted gains in Asian trade on Monday, hovering close to a nine-and-a-half month high. The lingering COVID-19 pandemic woes provided the safe-haven asset a steady boost.
The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.01% increase to 93.602 by 10:33 PM ET (10:33 AM GMT).
The USD/JPY pair climbed 0.01% to 109.73.
The AUD/USD pair shed 0.17% to 0.7134, while the NZD/USD pair slid 0.29% to 0.6882.
The USD/CNY pair jumped 0.14% to 6.5032, and the GBP/USD pair tallied a crash of 0.10% to 1.3624.
Also contributing to the U.S. currency’s gains was the Federal Reserve’s signs on a possible start of its asset tapering this year.
Investors may find further indications on the Fed’s decision, including the interest rate hike timetable during the Jackson Hole symposium on Aug. 26 to 28.