The dollar stabilized today, Monday, and pulled back from its lowest level in 8 months ahead of a series of central bank meetings this week, including a meeting of the Federal Reserve (US central bank), which sees higher interest rates.
The dollar index, which measures the US dollar against a basket of currencies, rose 0.03% to 101.92, off an eight-month low hit last week at 101.50.
But it is still on track to record a fourth straight monthly loss of 1.5%, which was impacted by expectations that the Federal Reserve is nearing the end of its interest rate hike cycle and that interest rates will not rise as feared before.
The pound rose 0.01% to $1.24005 against the dollar, while the New Zealand dollar rose 0.09% to $0.6500.
The Federal Reserve is expected to raise interest rates by 25 basis points, while the European Central Bank and the Bank of England are likely to raise interest rates by 50 basis points each.
The euro recorded a gain of 0.03% to 1.08705 against the dollar and is on track to achieve a monthly gain of about 1.5% to record a fourth consecutive month of gains.
