New york: The US dollar strengthened on Monday to a near three-month high as investors awaited a series of economic data releases this week to gauge the outlook for the US economy and assess whether it could influence the Federal Reserve’s hawkish policy stance. The Japanese yen remained under pressure, hovering near an eight-and-a-half-month low, weighed down by wide interest rate differentials between the United States and Japan.
According to Qatar News Agency, the euro slipped to a three-month low, trading last at $1.1527, while the British pound fell 0.26% to $1.3136. Against a basket of major currencies, the US dollar index edged up 0.05% to 99.82, close to its strongest level since August.
The yen weakened 0.1% to 154.15 per dollar, struggling to gain ground against its peers. Against the euro, the Japanese currency was similarly pinned near a record low of 177.68.