Dollar Eases Ahead of Key G-10 Central Bank Meetings This Week

12/06/2017 09:57 AST

The U.S. dollar weakened against most of its Group-of-10 peers as investors began tweaking positions ahead of multiple central bank policy decisions this week.

The Federal Reserve is scheduled to announce its policy decision Wednesday followed by the Bank of England and the Swiss National Bank Thursday while the Bank of Japan rounds up the week Friday. These come amid the second round of French parliamentary elections over the weekend. Leveraged accounts initially sold the pound in early morning trade after U.K. Prime Minister Theresa May’s hopes of clinging to power was dealt a fresh blow.

“We’re not expecting strong hints for a September follow up, but we do expect the Fed dots to continue to show at least one more rate hike as the medium projection,” Peter Dragicevich, a foreign exchange strategist at Nomura Singapore Ltd., said in a Bloomberg Television interview. “We might get a bit of dollar strength later this week, but it won’t be long lasting.”


Bloomberg

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