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US dollar rises as investors await monetary decisions

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New York, July 23 (IANS) The US dollar strengthened against its major rivals as investors awaited major central banks’ next monetary moves.

In late New York trading on Monday, the euro decreased to $1.1211 from $1.1219 in the previous session, and the British pound was down to $1.2481 from $1.2499 in the previous session, Xinhua news agency reported.

The Australian dollar was down to $0.7035 from $0.7043.

The US dollar bought 107.87 Japanese yen, higher than 107.77 Japanese yen of the previous session. The US dollar fell to 0.9816 Swiss franc from 0.9825 Swiss franc, and it was up to 1.3112 Canadian dollars from 1.3062 Canadian dollars.

Market expectations for the Federal Reserve to lower interest rates in July were 100 per cent, according to CME Group’s FedWatch tool late Monday, with investors pricing in some 22.5 per cent chance of a more aggressive cut.

Investors were also waiting for Thursday’s European Central Bank meeting, which will likely give out policy easing signals.

The dollar index, which measures the greenback against six major peers, rose 0.12 per cent at 97.2628 in late trading.



(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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