Investing.com - The dollar was higher against other major currencies on Monday, as sustained expectations for a 2016 U.S. rate hike continued to lend broad support to the greenback.
EUR/USD was little changed at 1.0876, close to Friday’s seven-month trough of 1.0857.
The dollar remained broadly supported after New York Fed President William Dudley said last week that the U.S. central bank will likely raise interest rates later this year if the economy remains on its current trajectory.
Growing expectations that Hillary Clinton will win the U.S. presidential election have also added to the view that a December rate hike is likely.
Meanwhile, sentiment on the euro was still fragile after European Central Bank President Mario Draghi indicated last week that the bank may extend its stimulus program in December.
GBP/USD slipped 0.20% to trade at 1.2204, while USD/JPY edged up 0.11% to 103.89.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.10% at 98.72, just off a fresh eight-month peak of 98.82 hit overnight.