US dollar mixed amid Fed rate hike uncertainties

New York, Sep 29 (IANS) The US dollar fluctuated against most major currencies on Monday as uncertainties about the timing of interest rate hike still weighed on investors sentiment.

New York Federal Reserve President William Dudley said on Monday the Fed remains on track for a likely rate hike this year, reported Xinhua.

In Thursday’s speech at the University of Massachusetts, US Federal Chair Janet Yellen said she anticipated a rate hike in the coming months.

On the economic front, the US Commerce Department on Monday said US personal income in August increased 0.3 percent and personal consumption expenditures rose 0.4 percent.

The better-than-expected increase in consumer spending in August added to the case for an interest rate hike this year.

In late New York trading, the euro gained to $1.1234 from $1.1196 of the previous session, and the British pound decreased to $1.5178 from $1.5190. The Australian dollar went down to $0.6990 from $0.7019.

The dollar bought 119.81 Japanese yen, lower than 120.62 yen of the previous session. The dollar moved down to 0.9747 Swiss francs from 0.9799 Swiss francs, and it moved up to 1.3386 Canadian dollars from 1.3330 Canadian dollars.

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