The dollar held steady against the yen and the Swiss franc on Monday, stabilizing against those safe-haven currencies after losses last week stemming from a selloff in emerging markets assets picked up pace.
Expectations the Federal Reserve may further reduce its bond-purchase stimulus this week halted the decline in the dollar, which has fallen nearly 2 percent in the past three sessions.
The greenback is vulnerable to more losses if more investors scramble out of emerging markets on concerns about a foreign exchange crisis in Argentina and the Turkish central bank’s ability to keep interest rates low. The stampede out of emerging economies has rippled across global markets.
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