Investing.com - The dollar pushed higher against the yen on Monday and remained steady against the euro in quiet trade as investor’s awaited U.S. data later in the day amid expectations that the Federal Reserve will delay plans to start tapering stimulus.
During European morning trade, the dollar firmed up against the yen, with USD/JPY rising 0.28% to 97.67. The yen slid as a rebound in Asian equities markets overnight dampened safe haven demand.
The U.S. was to release data on industrial production and pending home sales later Monday.
Market participants were also looking ahead to the Federal Reserve’s upcoming policy meeting later in the week after recent disappointing economic data cemented expectations that the central bank will maintain the current pace of its asset purchase program into next year.
The euro was little changed close to last Friday’s 23-month highs against the dollar, with EUR/USD edging up 0.03% to 1.3808.
The dollar slipped lower against the pound, with GBP/USD rising 0.21% to 1.6202.
Demand for sterling continued to be underpinned after data on Friday showed that the U.K. economy grew at the fastest pace in three years in the third quarter.
The Office of National Statistics said the U.K. economy expanded by 0.8% in the three months to September and grew 1.5% on a year-over-year basis.
The dollar pulled away from 20-month lows against the traditional safe haven Swiss franc, with USD/CHF up 0.18% to 0.8942.
The greenback slipped lower against its Australian and New Zealand counterparts, with AUD/USD climbing 0.34% to 0.9616 and NZD/USD up 0.47% to 0.8317.
The greenback was slightly lower against the Canadian dollar, with USD/CAD edging down 0.10% to 1.0439.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, dipped 0.03% to 79.24.
