The U.S. dollar rose against most major currencies on Tuesday as investors adjusted positions ahead of the closely-watched meeting between central bank officials later this week.
U.S. Federal Reserve officials are expected to be joined by European Central Bank President Mario Draghi and the Bank of Japan governor Haruhiko Kuroda on Friday at the annual Economic Policy Symposium in Jackson Hole in the U.S. state of Wyoming.
This year's topic will be "Fostering a Dynamic Global Economy" and investors are hoping to get clues related to the global monetary policy.
The meeting came as the U.S. central bank prepares to start reducing its 4.5 trillion U.S. dollars balance sheet and the European Central Bank weighs when to slow down its own large-scale asset purchases.
Expectations for tighter monetary policy in the U.S. have been dampened recently by soft inflation data. Market expectations for a rate hike in December are just 41 percent, according to the CME Group's FedWatch tool.
The dollar index, which measures the greenback against six major peers, was up 0.49 percent at 93.554 in late trading.
In late New York trading, the euro fell to 1.1751 U.S. dollars from 1.1816 U.S. dollars, and the British pound declined to 1.2826 U.S. dollars from 1.2899 U.S. dollars. The Australian dollar decreased to 0.7906 U.S. dollar from 0.7938 U.S. dollar.
The U.S. dollar bought 109.52 Japanese yen, higher than 108.75 yen of the previous session. The U.S. dollar climbed to 0.9684 Swiss franc from 0.9617 Swiss franc, and it edged down to 1.2562 Canadian dollars from 1.2568 Canadian dollars. Enditem
U.S. Federal Reserve officials are expected to be joined by European Central Bank President Mario Draghi and the Bank of Japan governor Haruhiko Kuroda on Friday at the annual Economic Policy Symposium in Jackson Hole in the U.S. state of Wyoming.
This year's topic will be "Fostering a Dynamic Global Economy" and investors are hoping to get clues related to the global monetary policy.
The meeting came as the U.S. central bank prepares to start reducing its 4.5 trillion U.S. dollars balance sheet and the European Central Bank weighs when to slow down its own large-scale asset purchases.
Expectations for tighter monetary policy in the U.S. have been dampened recently by soft inflation data. Market expectations for a rate hike in December are just 41 percent, according to the CME Group's FedWatch tool.
The dollar index, which measures the greenback against six major peers, was up 0.49 percent at 93.554 in late trading.
In late New York trading, the euro fell to 1.1751 U.S. dollars from 1.1816 U.S. dollars, and the British pound declined to 1.2826 U.S. dollars from 1.2899 U.S. dollars. The Australian dollar decreased to 0.7906 U.S. dollar from 0.7938 U.S. dollar.
The U.S. dollar bought 109.52 Japanese yen, higher than 108.75 yen of the previous session. The U.S. dollar climbed to 0.9684 Swiss franc from 0.9617 Swiss franc, and it edged down to 1.2562 Canadian dollars from 1.2568 Canadian dollars. Enditem
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