WASHINGTON (dpa-AFX) - The U.S. dollar climbed higher against its major peers on Monday as traders looked ahead to the Federal Reserve's monetary policy meeting that begins on Tuesday.
The central bank's policymakers are set to discuss a faster tapering of asset purchases to tackle price pressures. The Fed is widely expected to consider accelerating the pace of tapering its asset purchase program, with reports suggesting the central bank could double the rate to $30 billion per month.
The Bank of Japan, the European Central Bank, the Bank of England and the Swiss National Bank are also scheduled to announce their respective monetary policies this week.
The dollar index climbed to 96.45 in the Asian session, and despite paring some gains subsequently, remains firmly above the flat line, gaining nearly 0.3% at 96.36.
Against the Euro, the dollar has firmed to $1.1287 from Friday's close of $1.1318.
The dollar is trading at $1.3213 against Pound Sterling, firming from $1.3271, and at 113.56 yen, up from 113.38 yen.
Against the Aussie, the dollar is at 0.7132, gaining from 0.7172.
The dollar is trading at CHF 0.9224, up from CHF 0.9207. The Loonie is at 1.2812 a dollar, losing ground from 1.2727.
Copyright RTT News/dpa-AFX
© 2021 AFX News
