Dollar loses ground as markets focus on corporate earnings

Dollar declined against most major rivals on Monday as markets focus on corporate earnings and the Federal Reserve’s policy meeting this week.

After the release of earnings results by Tesla, Alphabet, and Microsoft last week, investors now await fresh results from other major tech companies, including Apple this week. 

Major US stock indices spiked last week, buoyed in particular by the stocks of major tech companies. 

Traders will also focus on the major event of the week, which is the Federal Reserve’s policy meeting, expected to maintain interest rates unchanged. 

On trading, the dollar index fell 0.3% to 105.6 as of 19:28 GMT, with a session-high at 106.09, and a low at 105.4. 

Loonie

The Canadian dollar rose 0.1% against its US counterpart as of 19:43 GMT to 0.732.

Aussie

The Australian dollar rose 0.5% against the US dollar as of 19:43 GMT to 0.6566. 

The Euro

The EUR/USD pair rose 0.3% as of 19:43 GMT to 1.0722.

Earlier government data showed German consumer prices rose 0.5% m/m in March, below estimates of 0.6%.