The dollar added to last week’s losses Monday, as traders looked ahead to monetary policy meetings in the U.S. and Japan, as well as a preliminary look at first-quarter gross domestic product, expected in the second half of the week.The ICE U.S. dollar index DXY, -0.10% a measure of the greenback’s strength against a basket of six rivals, was down 0.2%, while the WSJ Dollar index BUXX, +0.04% was down 0.1% at 86.33.
After hitting a new three-week high above $1.09, the euro EURUSD, -0.07% retraced some of its gains. It traded at $1.0884 recently, compared with $1.0875 Friday.
The dollar USDJPY, +0.02% traded at ¥119.25, compared with ¥118.99 late Friday. The yen showed little reaction to news that Fitch Ratings downgraded Japan’s credit rating to “A” from “A+”, citing a lack of effort by the Japanese government to adequately slow growth in its public debt. Japan has the highest debt to GDP ratio of any sovereign issuer rated by Fitch.
The pound GBPUSD, -0.04% rose to a nearly two-month high of $1.5263, but retreated slightly to $1.5223 in afternoon trading. It traded around $1.5188 late Friday.
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