Dollar Steadies on Fed Rate Hike Bump

The US dollar index has steadied after a strong performance last week, when it posted gains exceeding 1 percent. The index measures the American currency's performance against six major currencies.

This rally came on the heels of the Federal Reserve's interest rate hike, which has signaled the likelihood of further increases. This move is likely to have a positive impact on the dollar, leading to its recent gains.

The Japanese yen has also seen some recovery, edging up to 156.64 against the dollar after tumbling 2 percent last week. The Bank of Japan raised interest rates to their highest level in 31 years at 1.25 percent last Friday.