On Monday in New York, the dollar reduced its overnight gains against the euro as investors are waiting for a speech later in the day by the head of the Federal Reserve to see whether ultra-low interest rates will end sooner than what is expected.
Focus on Fed Chairman Ben Bernanke’s speech
All the traders are having their focus on Fed Chairman Ben Bernanke’s speech at the Economy Club of Washington at 12:45 p.m. EST (1745 GMT).
Major Currencies
In New York during late morning trading, according to EBS via CQG, the euro was at $1.4828 from $1.4847 late Friday.
The dollar was recorded at Y89.71 from Y90.50, while the euro was at Y133.01 from Y134.29. The British pound was at $1.6426 from $1.6448. It has been noted that the dollar was at CHF1.0192 from CHF1.0186.
Dollar Index
The Dollar Index, was at 75.782 from 75.788. This index tracks the greenback against a trade-weighted basket of currencies. The Dollar Index climbed as far as 76.183, during overnight trading, which is the highest level since early November.
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