Sharjah24 - Reuters: The dollar held firm near two-decade highs against other major currencies on Monday, biding its time ahead of a slew of central bank meetings that will include one by the U.S. Federal Reserve that is likely to deliver another hefty rate hike.
Trade was generally subdued, with markets in London and Tokyo closed for public holidays.
Still, the dollar maintained its firm tone, given expectations that the Fed would maintain its aggressive rate-hike path to contain uncomfortably high inflation.
The dollar index, which measures the currency against six counterparts, was 0.4% stronger at 110.06, heading back towards a 20-year high of 110.79 hit on Sept. 7.
"A while back there was talk that the Fed was close to being done with rate hikes, but that was premature," said Nordea chief analyst Jan von Gerich. "The Fed is not close to being done and that is supportive for the dollar."
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