Dollar little changed as traders seek direction from Fed meeting By Reuters

Dollar little changed as traders seek direction from Fed meeting By Reuters


© Reuters. FILE PHOTO: An employee of the Korea Exchange Bank counts one hundred U.S. dollar notes during a photo opportunity at the bank’s headquarters in Seoul April 28, 2010. REUTERS/Jo Yong-Hak/File Photo

By Kevin Buckland

TOKYO (Reuters) – The U.S. dollar held steady against major currencies on Monday (NASDAQ:), after posting its biggest weekly gain in more than a month, as traders closed short positions ahead of a Federal Reserve policy meeting this week.

The greenback was trading little changed at $1.21075 against the euro in Asia, after touching an almost one-month top of $1.2093 in the previous session, amid caution ahead of the Fed meeting that runs two days to Wednesday.

The yen was at 109.715, after weakening to 109.840 on Friday for the first time since June 4.

The , which measures the U.S. currency against six rivals, was mostly flat at 90.510 from as high as 90.612 on Friday. It finished last week with a 0.4% advance.

In recent weeks, the index has fluctuated as traders weighed if inflationary pressure as the economy reopens after the pandemic could force the Federal Open Market Committee (FOMC) into an earlier tapering of stimulus.

Repeated comments by policy makers that inflation would be transitory calmed those jitters, but markets also now anticipate the Fed may be close to giving clues on the timing for slimming its asset-purchase programme.

“The dollar repositioning shows some nerves heading into the FOMC policy update,” NAB strategist Jason Wong wrote in a note.

“Over the past month there appears to have been a growing chorus that the time to talk about tapering bond purchases had been reached.”

Among other currencies, New Zealand’s dollar held onto declines from last week to trade at $0.71315, after matching the lowest since mid-April at $0.71160 on Friday.

In cryptocurrencies, bitcoin traded around $39,000 after recovering from close to $31,000 last week.

Rival ether was at around $2,500, the middle of a narrowing trading range spanning the past month.

========================================================

Currency bid prices at 0029 GMT

Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change

Session

Euro/Dollar

$1.2105 $1.2109 -0.03% -0.92% +1.2112 +1.2103

Dollar/Yen

109.7550 109.6600 +0.09% +6.26% +109.7650 +109.7300

Euro/Yen

132.86 132.79 +0.05% +4.68% +132.9100 +132.7500

Dollar/Swiss

0.8983 0.8980 +0.05% +1.55% +0.8983 +0.8978

Sterling/Dollar

1.4114 1.4114 +0.01% +3.32% +1.4118 +1.4096

Dollar/Canadian

1.2160 1.2170 -0.08% -4.51% +1.2164 +1.2157

Aussie/Dollar

0.7704 0.7707 -0.04% +0.15% +0.7710 +0.7701

NZ

Dollar/Dollar 0.7137 0.7128 +0.13% -0.61% +0.7141 +0.7130

All spots

Tokyo spots

Europe spots

Volatilities

Tokyo Forex market info from BOJ

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a comment

Send a Comment

Your email address will not be published. Required fields are marked *