The dollar began on a firm footing on Monday, following five straight weeks of gains, as investors looked ahead to Federal Reserve's Jackson Hole symposium for a guide on where rates might settle when the dust of this hiking cycle clears.
The dollar made a gain of 0.7% on the euro last week, inched ahead on the yen and surged by more than 1% on the Antipodean currencies as U.S. Treasury yields leapt in anticipation of interest rates staying higher for longer.
"The Australian dollar will continue to underperform this week in our view," said strategists at the Commonwealth Bank of Australia in a note to clients. The euro held at $1.0883. Sterling hovered at $1.2738. The Swiss franc was just above a six-week low made last week at 0.8817 per dollar. The theme this year for the annual gathering in Wyoming is "structural shifts in the global economy".
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