The
dollar held losses against the euro and the yen as investors look to
speeches by Federal Reserve officials for clues on monetary policy.
A
gauge of the greenback against major peers dropped the most since
October 2011 last week as banks including HSBC Holdings Plc said the
currency’s surge since August is coming to an end. Officials scheduled
to speak on Monday include Cleveland Fed President Loretta Mester, a
non-voting member, and San Francisco Fed President John Williams, who
does vote on policy.
The
dollar traded at $1.0832 against the euro at 8:46 a.m. in Tokyo from
$1.0821 Friday, after slumping 3 percent last week. It was little
changed at 120.03 yen after sliding 0.6 percent on Friday.
The Bloomberg Dollar Spot Index fell 0.1 percent to 1,194.12, after tumbling 2.2 percent last week.
Hedge
funds trimmed their bullish dollar futures positions to the least since
December, according to Commodity Futures Trading Commission data. Net
futures position betting on a stronger greenback versus eight major
peers in this category reached a record 448,675 contracts in January.
Source : Bloomberg
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