Dollar Gains Against Major Counterparts
(RTTNews) - The U.S. dollar, which saw some weak spells last week, and dropped to a near 8-week low Monday morning, recovered some lost ground as the session progressed with traders looking ahead to speeches from Fed officials including Chair Jerome Powell.
Top officials from the Bank of England and the European Central Bank are also scheduled to speak at various forums during the week.
It is widely believed that the Fed may not hike interest rates any further. Futures markets currently imply an 86% chance the first policy easing would come as soon as June.
The dollar index, which dropped to 104.85 in the Asian session, rallied to 105.29 later on in the session, gaining about 0.26%.
Against the Euro, the dollar firmed to 1.0719 after having weakened to 1.0759 a unit of the European currency in the Asian session.
The dollar is up against Pound Sterling at 1.2344, strengthening from 1.2430. Against the Japanese currency, the dollar climbed to 150.05 yen, rising nearly 0.5%.
The dollar gained against the Aussie, strengthening to 0.6489, and against Swiss franc, was up marginally at CHF 0.8993. The loonie weakened to 1.3702 a dollar as oil prices dropped.
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