logo
Plus   Neg
Share
Email

Dollar Mostly Subdued Against Major Currencies

The dollar was subdued against most major currencies on Monday amid speculation the Federal Reserve might pause its monetary tightening measures this year.

In September-October 2018, the Fed was hinting there would be three rate increases in 2019. However, the central bank's members, including Chairman Jerome Powell have been saying in recent days that the bank would be flexible with regard to its policy stance.

The dollar was mostly weak against major currencies on Monday with traders shifting their focus to the vote on British Prime Minister Theresa May's Brexit deal.

On Tuesday, British legislators are scheduled to vote on May's Brexit deal.

Against British Pound Sterling, the U.S. dollar is down by about 0.2%. Meanwhile, the Euro/USD edged up marginally to $1.1469.

The Japanese yen gained ground against the U.S. dollar.

The dollar index is down 0.07, or 0.07% at 95.62. The index, which advanced to 95.72 earlier in the day, dropped down to 95.48 later on in the session.

U.K.'s pound sterling rose to a near 2-month high against the U.S. dollar before paring some gains. Still, the currency recovered subsequently and was trading marginally higher against the greenback.

In economic news, data from the Eurostat showed that Eurozone's industrial production decreased at a faster-than-expected pace in November.

Industrial production decreased a seasonally adjusted 1.7 percent from October, when it edged up 0.1 percent, revised from 0.2 percent. Economists had expected a 1.5 percent slump.

For comments and feedback contact: editorial@rttnews.com

Forex News

Follow RTT