The dollar rose against most major currencies during trading on Monday, as markets continued to assess statements issued by Federal Reserve officials and their impact on monetary policy expectations.
For his part, Atlanta Federal Reserve President Raphael Bostic said that the US economy continues to slow in growth, which leads to a decline in inflation, but he expected interest rates to be cut once this year.
Federal Reserve Vice Chairman Philip Jefferson said the recent slowdown in some inflationary pressures was encouraging, but it was too early to tell whether inflation was moving sustainably toward the 2 percent target.
Federal Reserve Chairman Jerome Powell said last week that he expects inflation in the US to decline in the coming months, a potentially positive signal for markets anticipating a rate cut later this year.
In terms of trading, the dollar index rose by 0.1% to 104.5 points by 21:40 GMT, recording a high of 104.6 points and a low of 104.3 points.
Australian Dollar
The Australian dollar was down 0.4% against the US dollar at 0.6668 by 21:41 GMT.
sterling
The pound was up less than 0.1% against the US dollar at 1.2707 by 21:41 GMT.
