The dollar weakened against its main rivals Monday after Federal Reserve Vice Chairman Stanley Fischer said the central bank won’t raise interest rates until inflation has returned to normal.Though he added that the date of what would be the Fed’s first increase to its benchmark interest rate since 2006 isn't preordained. Lockhart is a voting member of the Fed’s policy-making body this year.
The ICE U.S. dollar index DXY, +0.31% a measure of the dollar’s strength against a basket of six rivals, fell 0.4% to 97.1930.
The euro EURUSD, -0.3721% rose to $1.1030, its highest level since July 31, from $1.0969 late Friday in New York. It also strengthened to 1.0836 Swiss franc, the highest level since Jan. 15, when the Swiss National Bank abandoned a peg that kept the euro from weakening below 1.2 francs. By comparison, the shared currency EURCHF, -0.2399% traded at 1.0788 francs late Friday in New York.
The dollar USDJPY, +0.11% meanwhile, traded at 124.61 yen, up from ¥124.21 late Friday.
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