Dollar Drifts Lower Against Major Counterparts

(RTTNews) - The U.S. dollar turned in a weak performance against its major counterparts on Monday with traders awaiting the Federal Reserve's monetary policy announcement on Wednesday.

The accompanying statement and Fed Chair Jerome Powell's post meeting press meet are eyed for clues about the central bank's future interest rate moves.

Data on U.S. non-farm payroll employment for the month of April is due on Friday.

Fairly steady U.S. stocks and lower bond yields weighed on the greenback.

In economic news, a survey by the Federal Reserve Bank of Dallas showed its general business activity index for manufacturing in Texas came in at -14.5 for the month of April, not much changed from March's reading of -14.4.

The dollar index, which dropped to 105.46, recovered to 105.62 subsequently, but still remained 0.3% down from the previous close.

Against the Euro, the dollar weakened to 1.0723 from 1.0693. The dollar was weak against Pound Sterling at 1.2565, after having settled at 1.2495 a unit of the British currency.

Against the Japanese currency, the dollar weakened to 156.11 yen, dropping from 153.34 yen. The dollar shed ground against the Aussie, losing more than 0.5% at 0.6568. The Swiss franc strengthened to 0.9105 against the dollar, recovering from 0.9144. The dollar was flat against the loonie at C$ 1.3661.