The dollar stabilized at its highest level in more than two months against major currencies today, supported by expectations that the Federal Reserve (the US central bank) will reduce interest rates in a limited manner in the near term, which led to the yen approaching the 150 level for the dollar.
The euro also continued its decline, as it traded near its lowest level since August 8, which it recorded yesterday, ahead of the European Central Bank meeting to discuss monetary policy on Thursday, when the bank is expected to make another cut in interest rates.
The dollar index, which measures the performance of the US currency against six major currencies, recorded 103.27, which is close to its highest level since August 8 at 103.36, which it recorded yesterday. The index rose by 2.5 percent on its way to ending its three-month losing streak.
While the yen fell in recent trading to 149.72 to the dollar after falling to 149.98 yesterday, which is its weakest level since August 1. The yen fell by about 4 percent this month, after it was trading below 140 to the dollar a month ago.
The Australian dollar also lost 0.19 percent, reaching $0.67135, while the New Zealand dollar fell by 0.22 percent to $0.60835, and the euro fell by 0.15 percent to $1.0892.
The yuan fell in internal and external trades to its lowest level in a month against the dollar today.
The price of the pound sterling in the latest transactions reached 1.30525 against the dollar, before the release of wage data in Britain, which may give indications about the next step of the Bank of England in the next policy meeting.