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Dollar rises after US inflation data
The dollar rose on Monday after falling in the previous session, while the euro fell as markets were affected by the results of global central bank meetings that set mixed expectations for the path of interest rate cuts over the coming year.
The dollar index, which measures the performance of the greenback against six major currencies, resumed its upward path, after suffering its biggest one-day decline in nearly a month on Friday, after a weaker-than-expected reading for inflation. The dollar is heading for its fourth gain in five sessions.
The US Federal Reserve last week forecast a more conservative pace of interest rate cuts than markets had expected, sending the dollar and US Treasuries sharply higher.
The dollar index rose 0.37% to 108.19 points, remaining near a two-year high, while the euro fell 0.34% to $1.0394.
New orders for key U.S.-made capital goods rose in November on strong demand for machinery, data from the Commerce Department showed, in a fresh sign that the economy remains robust heading into the new year.
However, the Conference Board said on Monday its index of U.S. consumer confidence fell to 104.7 this month from an upwardly revised 112.8 in November, as post-election euphoria faded and concerns about future business conditions emerged.
In the euro zone, European Central Bank President Christine Lagarde said in an interview published by the Financial Times on Monday that the euro zone was approaching
