Dollar Turns In Mixed Performance Against Major Counterparts
(RTTNews) - The U.S. dollar turned in a mixed performance against its major counterparts on Monday as investors looked ahead to U.S. inflation data for more clarity about the outlook for interest rate cuts by the Federal Reserve.
The Labor Department is set to release its report on consumer price inflation in the month of January, which could have a significant impact on the outlook for interest rates.
Reports on retail sales, industrial production, producer price inflation and consumer sentiment are also likely to attract attention later in the week.
The dollar index, which dropped to 103.90 in the Asian session, recovered to 104.28 around late morning, and despite a fall below the flat line, recovered slightly to 104.13, netting a small gain.
Against the Euro, the dollar strengthened to 1.0757 before paring some gains. It was last seen at 1.0772, gaining a little over 0.1%. The dollar was flat against Pound Sterling at 1.2628, turning slightly weak after firming to 1.2605.
Against the Japanese currency, the dollar gained marginally, fetching 149.35 yen a unit. The dollar is down slightly against the Aussie at 0.6530, and up marginally against Swiss franc at CHF 0.8758. The dollar is down marginally against the Loonie, trading at C$1.3455.
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