NEW YORK, Aug. 29 (Xinhua) — The U.S. dollar edged up in late buying and selling on Monday amid weak spot in sterling.
The dollar index, which measures the dollar towards six main friends, elevated 0.03 p.c to 108.8350.
In late New York buying and selling, the euro was as much as 0.9994 U.S. {dollars} from 0.9968 {dollars} within the earlier session, and the British pound fell to 1.1703 U.S. {dollars} from 1.1744 {dollars} within the earlier session. The Australian dollar elevated to 0.6902 U.S. {dollars} from 0.6894 {dollars}.
The U.S. dollar purchased 138.82 Japanese yen, increased than 137.37 Japanese yen of the earlier session. The U.S. dollar rose to 0.9688 Swiss francs from 0.9664 Swiss francs, and it was right down to 1.3006 Canadian {dollars} from 1.3026 Canadian {dollars}.
Traders continued to digest U.S. Federal Reserve Chair Jerome Powell’s newest feedback.
In his highly-anticipated speech on Friday on the central financial institution’s Jackson Hole symposium, Powell mentioned it will seemingly be essential to hold financial coverage restrictive “for some time” to carry inflation again underneath management.