Dollar Pares Losses Against Major Peers As Potential 75 Bps Fed Rate Hike Looms
The U.S. dollar traded strongly on Monday morning, gaining against most peers ahead of a potential 75 basis points rate hike by the U.S. Federal Reserve later this week. The U.S. dollar index, which measures the greenback’s strength against a basket of currencies, traded close to 106.64, below its two-decade high of 109.29 recorded in early July.