The dollar fell against a basket of currencies today as investors re-evaluated whether the Federal Reserve will raise interest rates this year, which also sent the higher-yielding Australian dollar to its loftiest level since late April.
The dollar steadied in the lower half of an increasingly intransigent range on Monday, recovering from another round of disappointing data last week that undermined expectations of a rise in U.S. interest rates.
The greenback pared gains amid speculation it gained too much, too fast, and as U.S. Treasury yields fell. The currency jumped earlier as a private report showed U.S. companies added more than 200,000 workers for a sixth month.
Australia’s dollar fell below 90 U.S. cents for the first time since March, and Sweden’s krona declined after elections as prospects for U.S. interest-rate increases next year boosted the greenback’s allure.