Investing.com – The dollar remained near 15-month lows against the other major currencies in quiet trade on Monday, as comments by Federal Reserve Chair Janet Yellen at Jackson Hole continued to weigh heavily on the greenback.
The plummeted to 15-month lows 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 1.1924 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 was steady, with at 109.31, while slipped 0.14% to trade at 0.9550.
Elsewhere, rose 0.28% to 1.2915, 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 remained higher, with up 0.14% at 0.7945, while held steady at 0.7244.
Meanwhile, edged down 0.10% to trade at 1.2468.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 92.42 by 08:20 a.m. ET (12:20 GMT), just of a 15-month low of 92.30 hit earlier in the day.
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