Forex News – Dollar steadies as investors wait for Central Bank data
The US dollar steadied on Monday, after losing ground on gains made on Friday due to strong US job data. Oil price rises prompted investors to sell over the weekend in favour of higher-yield currencies, but levelled out on Monday as traders wait for Central Bank data this week.
Analysts expect that the euro and dollar will even out until the Federal Reserve’s interest rate verdict on Tuesday and the European Central Bank’s decision of Thursday. It is widely expected that both banks will keep interest rates unmoved.
The Reserve Bank of Australia and the Bank of England also meet this week to discuss interest rates, where it is also likely that both will leave interest rates unchanged.