Investing.com - The dollar was higher against the yen on Monday, but gains were held in check amid expectations that the Federal Reserve will delay plans to start tapering stimulus until well into next year.
During European late morning trade, the dollar firmed up against the yen, with USD/JPY rising 0.25% to 97.64. The yen slid as a rebound in Asian equities markets overnight dampened safe haven demand.
The U.S. was to release data on industrial production and pending home sales later Monday.
Market participants were also looking ahead to the Fed’s upcoming policy meeting later in the week after recent disappointing economic data cemented expectations that the central bank will maintain the current pace of its asset purchase program for some time to come.
The euro was little changed close to last Friday’s 23-month highs against the dollar, with EUR/USD dipping 0.03% to 1.3798.
The dollar slipped lower against the pound, with GBP/USD rising 0.16% to 1.6194.
In the U.K. a report compiled by the Confederation of British Industry said just 2% of retailers reported an increase in sales in October, down from 34% in September.
The greenback slipped lower against its Australian and New Zealand counterparts, with AUD/USD climbing 0.23% to 0.9606 and NZD/USD up 0.47% to 0.8317.
The greenback was slightly lower against the Canadian dollar, with USD/CAD edging down 0.08% to 1.0443.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged up 0.04% to 79.30.
During European late morning trade, the dollar firmed up against the yen, with USD/JPY rising 0.25% to 97.64. The yen slid as a rebound in Asian equities markets overnight dampened safe haven demand.
The U.S. was to release data on industrial production and pending home sales later Monday.
Market participants were also looking ahead to the Fed’s upcoming policy meeting later in the week after recent disappointing economic data cemented expectations that the central bank will maintain the current pace of its asset purchase program for some time to come.
The euro was little changed close to last Friday’s 23-month highs against the dollar, with EUR/USD dipping 0.03% to 1.3798.
The dollar slipped lower against the pound, with GBP/USD rising 0.16% to 1.6194.
In the U.K. a report compiled by the Confederation of British Industry said just 2% of retailers reported an increase in sales in October, down from 34% in September.
The greenback slipped lower against its Australian and New Zealand counterparts, with AUD/USD climbing 0.23% to 0.9606 and NZD/USD up 0.47% to 0.8317.
The greenback was slightly lower against the Canadian dollar, with USD/CAD edging down 0.08% to 1.0443.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged up 0.04% to 79.30.