The ICE U.S. dollar index pressed to another three-month high Monday as investors shifted their focus back to the theme of monetary policy divergence—the idea that U.S. monetary policy makers will soon raise interest rates, while the other major central banks continue easy monetary policy.The index DXY, +0.00% a measure of the dollar’s strength against a basket of six currencies, rose 0.2% Monday to 98.0198.
The euro EURUSD, -0.0185% traded at $1.0835, flat compared with its late-Friday level. The pound GBPUSD, +0.0000% weakened against the dollar, after rising on hawkish comments from Bank of England Gov. Mark Carney last week. It traded at $1.5567, from $1.5605 late Friday in New York. The dollar USDJPY, +0.09% traded at 124.30 yen, up from ¥124.06 late Friday.
Meanwhile, West Texas Intermediate crude oil CLQ5, -0.32% for delivery in August fell 74 cents, or 1.5%, to settle at $50.15 a barrel. Gold GCQ5, -0.41% shed 2.2% to settle at $1,106.80, its lowest level in more than five years.
One notable exception was the New Zealand dollar, one of the worst-hit commodity currencies of the past few months, which rebounded against the dollar Monday, trading USDNZD, -0.4096% at 65.78 cents, from 65.21 cents Friday.
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