Dollar Climbs Ahead of Fed, BOJ Rate Decisions

The US dollar rose on Monday as investors positioned for this week's interest rate decisions from the Federal Reserve and Bank of Japan. The euro fell by 0.28% to $1.1565, while sterling was little changed at $1.3503.

The dollar index, which tracks the US currency against six major currencies, rose by 0.23% to 99.34. This gain comes as investors weigh the prospects of interest rate hikes in both the US and Japan.

The yen weakened by 0.3% to 154.03 per dollar but remained close to a seven-month high of 152.89 reached last week. The yen has gained about 4% since the start of September, supported by expectations that the Bank of Japan will accelerate its rate-hike cycle and signs that Japanese investors may repatriate some overseas assets.