Investing.com - The dollar held steady against the other major currencies on Monday, as expectations for an upcoming U.S. rate hike continued to support the greenback and as investors eyed comments by several Federal Reserve officials scheduled later in the day.
The dollar was steady against the euro, with EUR/USD at 1.1201.
The dollar found support after Federal Reserve Chair Janet Yellen said last Thursday that the U.S. central bank remains on track to raise interest rates this year.
The comments reassured investors that monetary policy has not altered significantly following the Fed’s decision to hold off hiking rates earlier this month.
The greenback received an additional boost after data on Friday showed that the U.S. economy grew at a faster rate than previously estimated in the three months to June.
The Commerce Department said gross domestic product expanded at an annual rate of 3.9% in the second quarter, up from an initial estimate of 3.7%.
Consumer spending, which comprises more than two-thirds of U.S. economic activity was revised up to 3.6% from the 3.1% reported in August.
The dollar slid lower against the yen, with USD/JPY down 0.36% at 120.06.
Market sentiment weakened after International Monetary Fund head Christine Lagarde said in an interview on Monday that the IMF is likely to revise downwards its estimates for global economic growth due to slower expansion in emerging economies.
Elsewhere, the dollar was lower against the pound, with GBP/USD up 0.27% at 1.5221, and steady against the Swiss franc, with USD/CHF at 0.9780.
The Australian and New Zealand dollar were little changed, with AUD/USD at 0.7031 and with NZD/USD at 0.6385.
USD/CAD eased 0.08% to trade at 1.3327, still hovering close to last week's six-year peak of 1.3417.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 96.30.