Dollar Index Steadies After Last Week's Robust Gains

The US dollar index has steadied after gaining more than 1% last week. This surge in value followed the Federal Reserve's interest rate hike, which indicated a likelihood of further increases.

The Japanese yen recovered slightly, rising to 156.64 against the dollar after falling 2% last week. The Bank of Japan had raised its interest rates to 1.25%, their highest level in 31 years, on Friday.

Meanwhile, the euro and sterling remained relatively unchanged at $1.1482 and $1.339 respectively. The Australian and New Zealand dollars also held steady at $0.7129 and $0.5721.