Dollar Climbs as Traders Await Central Bank Decisions from the Fed and Bank of Canada

Deep News04:15

The dollar traded mixed against its Group-of-10 counterparts as investors waited for interest-rate decisions from the Federal Reserve and the Bank of Canada due on Wednesday.

The Bloomberg Dollar Index rose 0.2% to 1,225.22, while the 10-year U.S. Treasury yield held steady at 4.98%.

EUR/USD fell 0.3% to 1.1137. France's bond market relies heavily on foreign investors, fueling concern that this could become another factor amplifying market volatility.

GBP/USD declined 0.2% to 1.3317. The pound's resilience will face a test if the U.K. government limits spending at the expense of slower economic growth in its upcoming budget.

USD/JPY rose 0.2% to 157.88.

USD/CAD gained 0.3% to 1.4051. As policymakers grow increasingly worried about the inflation risk posed by energy costs, the Bank of Canada may raise rates for the first time in more than three years.

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