Dollar Falls to Lowest Level in Seven Months

The US dollar declined broadly on Monday and slipped sharply against the yen in particular as investors bet on a dovish tone emerging in the Federal Reserve's July policy meeting minutes. The minutes, due on Wednesday, and Powell's speech on Friday are likely to be the main drivers of currency movement for the week, which will also see inflation data from Canada and Japan alongside Purchasing Managers' Index readings across the US, euro zone and UK. Against the yen, the greenback fell more than 1 percent to 146.01, after earlier slipping below the 146 yen level. Elsewhere, the euro last bought USD 1.1043, edging towards an over seven-month high of USD 1.10475 hit last week. Sterling rose to a one-month high of USD 1.2960 earlier in the session and was last at USD 1.2957. Against a basket of currencies, the dollar fell to a seven-month low of 102.11. The Australian and New Zealand dollars struck one-month highs of $0.6694 and USD $0.6086, respectively. Source: Qatar News Agency