US Dollar Gains Ground Ahead of Key Inflation Report
The US dollar gained ground on Monday in a cautious and wait-and-see market ahead of the release of a key US inflation index on Friday, while investors also kept an eye on the latest developments in international trade.
At 19:00 GMT, the greenback appreciated by 0.10% against the euro, to $1.1643, and by 0.17% against the British pound, to $1.3404.
The US Federal Reserve (Fed), which lowered its benchmark interest rates in September for the first time this year by a quarter of a point, aims to stimulate a fragile job market while keeping inflation in check around its long-term target of 2%.
Traders are also watching for signs of easing tensions between Beijing and Washington after the announcement on Saturday of new trade talks to come.
Meanwhile, the price of gold remained on an upward trend, after reaching a new historic high on Friday at $4,379.93 an ounce, confirming its status as a safe-haven asset in a context of monetary uncertainty.
