Dollar Rises Against Major Counterparts
(RTTNews) - The U.S. dollar gained against most of its major counterparts on Monday with investors assessing the strength of the economy and the outlook for interest rates following recent data showing a drop in consumer price inflation.
Investors also noted the Senior Loan Office Opinion Survey from the Federal Reserve that showed U.S. banks reported tighter credit standards and weaker loan demand in the the second quarter.
The market awaits the non-farm payroll data for the month of July later this week.
MNI Indicators said its Chicago business barometer inched up to 42.8 in July from 41.5 in June, although a reading below 50 still indicates a contraction. Economists had expected the index to rise to 43.0.
The dollar index surged to 101.90, gaining nearly 0.3%.
Against the Euro, the dollar has firmed to 1.0996 from 1.1019. The dollar is up at 1.2835 against Pound Sterling, firming from 1.2849.
Against the Japanese currency, the dollar has strengthened to 142.27 yen, rising from 141.15 yen a unit. The Aussie is stronger against the dollar with the AUDUSD pair at 0.6717.
Against Swiss franc, the dollar is up, fetching CHF 0.8718 a unit, compared to CHF 0.8615 on Friday. The dollar is weak against the loonie at C$1.3191 as oil prices rose sharply on optimism about energy demand prospects.
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