The Greenback went lower on Monday
The Greenback went lower on Monday, but no too far from its recent highs recorded ahead of the U.S. Federal Reserve meeting that is allegedly supposed to give a interest rate hike in the near future.
After European Central Bank's recent moves, euro remained under pressure.
The Canadian dollar rose to its 8-week high against the American Dollar, helped by the oil prices on their rally.
The U.S. Central Bank is expected to rise the interest rates on Tuesday, when the central bank of U.S. will have a two day meeting. Investors, on the other hand, seem to play the waiting game.
Expecting a higher inflation and strong infrastructure spending under Trump's administration, investors have build the ground for the Greenback, giving it a strong position.
Harumi Taguchi, principal economist at IHS Markit in Tokyo said : "The speed of the dollar's rise has been quite faster than anyone had expected, and we don't know much about what Trump's administration will actually do".
Earlier, the American dollar went down 0.1% to 115,25 Yen.
Euro stand flat at 1.0560 USD. Its flatness was due to European Central Banks' declaration that it will extend its bond-buying program by 9 more months, longer than investor's anticipated.
The European Central Bank's declaration also triggered pressure on U.S. Treasury yields, making dollar appealing to markets. At the last closing, the U.S. Treasury yields closed at 2.464%. Dollar was down at C$1.3121, its lowest since the month of October.
The dollar index was at 101.52, lower by 0.1%.
The Canadian dollar went up by 4%, reaching its highest level since 2015. Its rise was due to OPEC and non-OPEC producers, that reached their first deal since 2001.
On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy
The gold prices dropped below $1.200
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