The US dollar devitalized Monday as traders remain positive the Federal Reserve would raise interest rates as early as September.
The greenback stood at $1.1249 per euro from last week’s $1.1715. Against the Japanese yen, the dollar ended at ¥121.01 from last week’s ¥116.15.
Perhaps, we will move around the stock market’s nuances, specifically “the S&P and the Shanghai Composite,” said Jeffrey Halley, FX Trader at Saxo Capital Markets.
An escalating risk aversion has ignited short-covering rallies in the euro and the yen this month, well-known funding currencies for carry trades.
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