Dollar Edges Higher; Covid Hits Consumer Sentiment

Dollar Edges Higher – The dollar edged higher in early European trading Monday, but remained near a one-week low as rising Covid-19 cases and slumping U.S. consumer confidence could pressure the Federal Reserve to delay tapering its bond-buying program.

At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded less than 0.1% higher at 92.550, but this is still around 0.5% lower than the levels seen at the end of last week.