Dollar steadies after bounce off of one-month low – Reuters

Dollar steadies after bounce off of one-month low – Reuters

NEW YORK Oct 25 (Reuters) - The dollar steadied on Monday afternoon after bouncing off a one-month low as traders weighed the prospects of higher interest rates for different currencies and considered how coming economic data and central bank comments could impact their positions.

The upward move came at the expense of the euro, the Japanese yen and the Swiss franc. The change seemed to indicate that the market had taken the dollar down too much recently on expectations that inflation outside the U.S. will force up interest rates for other currencies faster than for the greenback.

The dollar index against major currencies steadied with a gain of nearly 0.2% for the day after turning up from a one-month low in early trading. Before the turn, the index had lost 1% over two weeks.