Dollar still near lows against major rivals

The dollar remained pinned near multi-month and multi-year lows its major trading partners this afternoon with US stocks under…

The dollar remained pinned near multi-month and multi-year lows its major trading partners this afternoon with US stocks under fire.

The euro rose 0.1 per cent at $1.18. The dollar was flat against the yen at 109.44 yen. Sterling rose 0.2 per cent at $1.6963, on continued support from ideas the Bank of England could raise interest rates early next month.

There were no US economic releases today. US stock futures trade indicated a weaker open for the major averages.

Traders expected muted action as the currency market was awaiting comments from the weekend Group of 20 finance ministers meeting in Mexico.