Dollar well above Friday's post-Fed decision low

London

THE dollar recovered ground against the yen and euro on Monday as investors weighed if major central banks such as the European Central Bank and the Bank of Japan may ease policy after the Federal Reserve delayed a hike in interest rates.

Traders said demand for dollars before the quarter-end by investors seeking to rebalance their bond and stocks portfolios was also underpinning the greenback. Against a basket of six major currencies, the dollar last traded at 95.319, well above Friday's low of 94.063, its lowest since Aug 26. The dollar was 0.3 per cent higher at 120.40 yen, recovering from Friday's low of 119.045 yen.