US dollar declines after Yellen, Draghi comments

0 Comment(s)Print E-mail Xinhua, August 29, 2017
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The U.S. dollar declined against most major currencies on Monday as investors mainly digested comments from central bankers and worried over Hurricane Harvey.

Wall Street was digesting remarks made at the annual Economic Policy Symposium in Jackson Hole on Friday.

Federal Reserve Chair Janet Yellen said the financial system is safer now than it was during the 2008 financial crisis, though some adjustments may be needed to regulations.

However, Yellen offered no clues about the future of the country's monetary policy.

European Central Bank President Mario Draghi decided to hold back from talking down the euro at the central bankers' meeting in Jackson Hole.

Meanwhile, the dollar also weakened after tropical storm Harvey ravaged Houston and other parts of Texas over the weekend.

The dollar index, which measures the greenback against six major peers, was down 0.58 percent at 92.203 in late trading.

In late New York trading, the euro increased to 1.1980 dollars from 1.1876 dollars in the previous session, and the British pound increased to 1.2941 dollars from 1.2875 U.S. dollars in the previous session. The Australian dollar increased to 0.7971 dollar from 0.7935 dollar.

The U.S. dollar bought 109.11 Japanese yen, lower than 109.29 yen of the previous session. The U.S. dollar lost to 0.9550 Swiss franc from 0.9574 Swiss franc, and it edged up to 1.2493 Canadian dollars from 1.2482 Canadian dollars.

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