Economic news

Dollar stable, all eyes on Fed's meeting due this week

The dollar was firm versus most of its major counterparts on Monday, underpinned by anticipations of tighter Fed's monetary policy.

Photo: Reuters

The dollar’s index against six major currencies was stable at 96.50.

Traders are bullish on the U.S. currency, buoyed by solid economic growth and see the Federal Reserve on course to increase interest rates in December, followed by another two similar steps by mid-2019.

The greenback remained firm versus the safe harbor Japanese yen, which traded unchanged at 113.22.

The dollar slumped by 0.66 percent against the yen last month as news on trade tensions, geopolitical uncertainty and a slowing global economy boosted the demand for the Japanese currency.

The euro traded unchanged at $1.1385, reversing its gains, achieved on latest Brexit developments.

The yuan slipped to 6.9123 in offshore trade. The Aussie skidded 0.14 percent to $0.7186.

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