FALCON POWERS – The dollar rose against the euro on Monday as investors awaited further signs on the path of U.S. interest rates following cautious comments from Federal Reserve officials, even as there were signs of slowing inflation.
Fed officials are not yet ready to say that inflation is heading toward the central bank’s 2% target, after data last week showed a decline in April inflation. Many of them on Monday called for continued caution in policy.
The euro fell 0.05% against the dollar to $1.0863. Against the Japanese currency, the dollar rose 0.4% to 156.26 yen.
The British pound gained 0.07% to $1.2711 on Monday after touching a two-month high of $1.27255, ahead of the UK inflation report due on Wednesday.
The Australian dollar fell 0.3% to $0.6671. The Australian dollar has risen 3% this month amid rising Australian inflation.
In cryptocurrencies, bitcoin rose 2.7% on Monday to $68,715, a new five-week high.
