US dollar mixed ahead of Fed meeting

 The U.S. dollar traded mixed against other major currencies on Monday ahead of Federal Reserve's policy meeting due to open later this week.

The Fed will kick off its two-day monetary policy meeting on Tuesday. The U.S. central bank was expected to give out more clues of when to raise interest rates this year in its after-meeting statement.

According to analysts, a June-hike was practically off the table in the wake of a much weaker-than-expected non-farm payroll report in May. Moreover, Fed Chair Janet Yellen removed most of the rate hike drama this month when she avoided giving the timeline for further rate hikes in a speech last week.

The dollar index, which measures the greenback against six major peers, was down 0.26 percent at 94.329 in late trading on Friday.

In late New York trading, the euro rose to 1.1296 dollars from 1.1261 dollars of the previous session, and the British pound decreased to 1.4225 dollars from 1.4257 dollars. The Australian dollar went up to 0.7392 dollars from 0.7380 dollars.

The dollar bought 106.18 Japanese yen, lower than 106.71 yen of the previous session. The dollar climbed to 0.9640 Swiss francs from 0.9639 Swiss francs, and it inched up to 1.2791 Canadian dollars from 1.2765 Canadian dollars.

source : xinhua