Dollar Cautiously Firm Ahead of Busy Central Bank Week
Singapore, January 30 (QNA) – The dollar firmed on Monday and distanced itself from an eight-month trough ahead of a slew of central bank meetings this week, including the Federal Reserve’s, with traders keenly focused on guidance for the path of interest rate rises.
The US dollar index, which measures the greenback against a basket of currencies, rose 0.03 percent to 101.92, edging away from last week’s eight-month low of 101.50.
Sterling was up 0.01% at $1.24005, while the kiwi edged 0.09 percent higher to $0.6500. The euro was last 0.03 percent higher at $1.08705 and was on track for a monthly gain of nearly 1.5 percent.
Fed is widely expected to deliver a 25 basis point rate hike, while the European Central Bank (ECB) and the Bank of England (BoE) are likely to raise rates by 50bp each. (QNA)