The dollar was mired near an 8-month low against a basket of currencies on Monday on growing expectations the U.S. Federal Reserve will have to delay scaling back its stimulus following a 16-day government shutdown.
The dollar index held steady at 79.675, not very far from a trough of 79.478 touched on Friday, its lowest level since February.
“In the last two months, previous payrolls figures were revised down. The U.S. economy is losing steam and cannot withstand tapering,” said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.