The
dollar held above a three-week low against major peers after Federal
Reserve Vice Chairman Stanley Fischer became the latest policy maker to
back the case for a year-end interest-rate increase.
The
U.S. currency rose versus Australia’s dollar as Fischer echoed comments
by William C. Dudley, Dennis Lockhart and John Williams, who have all
said since a disappointing September payrolls report that they still see
rates being raised this year. Two-year Treasury yields climbed last
week by the most since August. The Aussie retreated after gaining last
week by the most since December 2011.
The
Bloomberg Dollar Spot Index, which measures the greenback’s performance
against a basket of 10 major counterparts, was little changed at
1,191.09 as of 8:51 a.m. in Singapore from Friday, when it touched
1,190.72, the lowest since Sept. 18. The U.S. currency slid 0.1 percent
to $1.1373 per euro. It bought 120.10 yen from 120.27. Against
Australia’s dollar, it strengthened 0.1 percent to 73.30 U.S. cents.
Treasury
two-year yields climbed six basis points in the five days to Oct. 9,
the biggest weekly advance since August. At 0.64 percent, the yield is
back near the level it traded at before an Oct. 2 report showed U.S.
employers added fewer jobs in September than analysts had forecast.
Source : Bloomberg
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