Prime News: US dollar dwindles as investors still optimistic on rate hike

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.

The material has been provided by InstaForex Company –