New York, Aug 11: The US dollar dropped against most major currencies when it soared to a four-month high within the previous session.
The dollar index touched its highest level of 98.334 in nearly four months on Friday because the robust US jobs data bolstered expectation for an interest-rate hike as early as Sep, according Xinhua.
The index was down 0.38 % at 97.194 in late trading on Monday because of some peaceful remarks by Federal Reserve System president Stanley Fischer.
Fischer said on Mon that low US inflation, whereas mostly restrained by temporary factors, remains a priority once the Fed was considering a rate-hike.
Analysts said Fischer’s words forged some doubt on whether the central bank would raise rates next month.
Meanwhile, investors were awaiting the closely-watched US retail sales knowledge to urge a a lot of comprehensive read of the country’s economic recovery.
In late New York mercantilism, the euro rose to $1.0921 from $1.0972 within the previous session, and the British pound climbed to $1.5601 from $1.5492 within the previous session.
The dollar accrued to $0.7410 from $0.7407.
The US dollar bought 124.61 Japanese yen, above 124.17 yen of the previous session.
