Dollar remains broadly lower vs. rivals on Yellen silenceDollar remains broadly lower vs. rivals on Yellen silence

Investing.com – The dollar was hovering at 15-month lows against the other major currencies on Monday, as comments by Federal Reserve Chair Janet Yellen at Jackson Hole disappointed investors and as the euro remained broadly supported.

The greenback weakened broadly after a speech by Fed Chair Yellen at the Jackson Hole economic symposium made no reference to monetary policy, disappointing some investors who had hoped she would adopt a hawkish tone.

The dollar has been under strong selling pressure this year amid ongoing uncertainty over the economic agenda of U.S. President Donald Trump and doubts that the Fed will deliver a third rate hike this year.

was steady at a fresh two-and-a-half year high of 1.1931 after European Central Bank President Mario Draghi at Jackson Hole avoided giving any new indication as to when the bank might wind down its stimulus program, but acknowledged that the recovery in the euro area is gaining momentum.

The yen and the Swiss franc were stronger, with down 0.14% at 109.22 and with shedding 0.32% to trade at 0.9532.

Elsewhere, edged up 0.22% to 1.2907, although investors remained cautious as a third round of Article 50 negotiations between the UK and European Union was set to begin in Brussels later Monday.

The Australian dollar was higher, with up 0.18% at 0.7948, while held steady at 0.7243.

Meanwhile, slipped 0.13% to trade at 1.2465.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at fresh 15-month trough of 92.37 by 05:20 a.m. ET (09:20 GMT).

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