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Dollar Starts Week Lower Before Central Bank Meetings, Fed Pick

  • Euro declines vs dollar, yen after German CPI misses estimates
  • BOE, BOJ and Fed meet this week; BOE seen raising rates
Bloomberg business news

Dollar Drops Before Fed Chair Call

Updated on

The dollar started the week with a decline, dropping versus most of its G-10 peers amid month-end profit-taking and ahead of central bank decisions.

The Bloomberg Dollar Spot Index was down 0.2 percent after paring losses of as much as 0.3 percent. The pound and the yen were among the top gainers against the greenback. Trading flows were generally muted as investors waited out portfolio rebalancing that was expected to result in modest dollar selling. Meanwhile, there were also three G-10 central bank meetings this week to look forward to and President Trump was expected to name his pick for the next Fed chair Thursday.