On Monday the greenback was higher vs major rivals, as some analysts started to bet the Federal Reserve will increase rates as early as December after standing pat this month.
The U.S. currency rose to 120.41
yen, up 0.52% against the Japanese currency, while the euro fell 0.03%
to $1.1278.
“It is ironic that the dollar has actually strengthened against the
euro in the wake of a decidedly dovish FOMC [Federal Open Market Committee] presser last week, but it
may very well be the market’s judgment that the Fed was simply delaying
the normalization policy until the December meeting,” said Boris
Schlossberg, managing director of foreign-exchange strategy at BK Asset
Management, in a note Monday.
Schlossberg added that the greenback keeps enjoying a strong bid at the beginning of the week, and may see further strength if the U.S. data is strong later in the week.
Investors will await a fresh reading on sales of existing homes due at 10 a.m. Eastern time.
