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Forex News: U.S. Dollar Lower Against Some Majors

U.S. Dollar Lower Against Some Majors

02/26/2024 - 10:33:00 (RTTNews)

(RTTNews) - The U.S. dollar was lower against some of major counterparts in the European session on Monday.

Investors eye a slew of U.S. economic data this week, including the Fed's preferred gauge of inflation on Thursday for further clues on the prospects of early rate cuts.

A string of speeches by Federal Reserve officials this week may provide additional clarity on the timing and pace of rate cuts.

The greenback touched 1.0859 against the euro, setting a 4-day low.

The greenback reached as low as 1.2699 against the pound.

The greenback eased to 1.3500 against the loonie, from an early 5-day high of 1.3528.

The greenback is seen finding support around 1.10 against the euro, 1.28 against the pound and 1.34 against the loonie.

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