Dollar remains broadly supported in quiet trade : 22.08.2016
Click Here & Register To Get 2 days Trial Tips
The dollar remained broadly higher against the other major currencies in quiet trade on Monday, as fresh hopes for a possible U.S. rate hike before the end of the year continued to support to the greenback.
EUR/USD slipped 0.16% to 1.1306, off the four-day low of 1.1270 hit overnight.
The dollar remained supported after San Francisco Federal Reserve Bank President John Williams on Thursday signaled support for a September rate increase.
"In the context of a strong domestic economy with good momentum, it makes sense to get back to a pace of gradual rate increases, preferably sooner rather than later," he said.
Minutes of the Federal Reserve's July policy meeting published earlier in the week showed committee members remained divided on the timing of the next rate hike, although there is general agreement that more data is needed before such a move.
GBP/USD rose 0.23% to 1.3105.
USD/JPY gained 0.33% to 100.53, while USD/CHF rose 0.28% to 0.9629.
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.20% at 0.7613 and with NZD/USD sliding 0.30% to 0.7251.
Elsewhere, USD/CAD was up 0.31% at 1.2911, after hitting a one-week high of 1.2929 earlier in the day.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.16% at 94.63, the highest since August 17.
Click Here & Register To Get 2 days Trial Tips
Free Intraday Tips : Join Our Whatsapp No : 9841986753
The dollar remained broadly higher against the other major currencies in quiet trade on Monday, as fresh hopes for a possible U.S. rate hike before the end of the year continued to support to the greenback.
EUR/USD slipped 0.16% to 1.1306, off the four-day low of 1.1270 hit overnight.
The dollar remained supported after San Francisco Federal Reserve Bank President John Williams on Thursday signaled support for a September rate increase.
"In the context of a strong domestic economy with good momentum, it makes sense to get back to a pace of gradual rate increases, preferably sooner rather than later," he said.
Minutes of the Federal Reserve's July policy meeting published earlier in the week showed committee members remained divided on the timing of the next rate hike, although there is general agreement that more data is needed before such a move.
GBP/USD rose 0.23% to 1.3105.
USD/JPY gained 0.33% to 100.53, while USD/CHF rose 0.28% to 0.9629.
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.20% at 0.7613 and with NZD/USD sliding 0.30% to 0.7251.
Elsewhere, USD/CAD was up 0.31% at 1.2911, after hitting a one-week high of 1.2929 earlier in the day.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.16% at 94.63, the highest since August 17.