Dollar nears lowest level in 15 months amid policy speculations

The dollar fell on Monday against a basket of currencies after recording the largest weekly decline this year, as dealers await economic data and monetary policy decisions.

The euro continued to rise, rising 0.15 percent, to hit a 16-month high of $1.12440.

The dollar fell against the yen 0.27 percent to 138.38 yen, after touching the lowest level against the Japanese currency in two months on Friday.

US inflation data last week fueled investor bets that the Federal Reserve (the US central bank) is close to ending the cycle of raising interest rates, and the dollar index recorded the largest weekly decline since November 2022, when it fell 2.25 percent in a week.

The dollar index fell 0.13 percent to 99.831.

The Australian dollar fell 0.34 in its latest transactions to $ 0.6815 from a peak of $ 0.6895 last week, and the New Zealand dollar fell 0.4 percent to $ 0.6345 after hitting a five-month high of $ 0.6412 on Friday.

The Swedish krona and the Norwegian krone continued to rise after rising by more than five percent against the dollar last week. The Swedish krona rose 0.65% to 10.1860 per dollar, and the Norwegian krone rose 0.4% to 10.0180 per dollar.

The pound sterling settled at $ 1.3094, just below the 15-month peak it recorded last week.