The US dollar strengthened on Monday as the Federal Reserve decided to delay increasing interest rates this year.
Also, Federal Reserve Bank of San Francisco President John Williams said the decision not to hike rates this year was a close call.
The greenback finished at $1.1285 per euro from Friday’s $1.1460, and $1.5522 per British pound from $1.5659. Versus the Japanese yen, the currency closed at ¥120.08 from ¥119.04.
We suppose the US dollar should struggle to attain considerable upside traction this week as “rate expectations are unlikely to adjust higher,” said Elias Haddad, Senior Currency Strategist at Commonwealth Bank.
This week, traders will turn their attention to China and the flash PMI report Wednesday.
The material has been provided by InstaForex Company – www.instaforex.com