Dollar drifts in quiet trading

By Blake Ellis, contributing writer

NEW YORK ( -- The dollar was little changed against major currencies Monday at the beginning of what is expected to be a quiet week.

"Thin trading makes one of two things happen: it can exaggerate the impact of small orders, or it can mean very little activity, and I expect very little activity," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman.

The dollar ended last week mixed against rivals on weaker-than-expected home sales data, after making gains versus the euro earlier in the week.

"This year-end rally is, for one, year-end position squaring, and also, people are feeling a bit more confident about the direction of U.S. interest rates," said Chandler.

While Chandler expects the dollar to remain mixed throughout the week, he predicts that it will strengthen in 2010 on higher interest rates and optimism about the economic recovery.

"I think the Federal Reserve will raise interest rates, and it will be the first in the G-7 to raise rates, so the dollar will find better traction," he said.

The dollar was down against the euro at $1.438 and fell 0.3% against the British pound to $1.600. The greenback rose slightly against the yen to ¥91.62. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
View rates in your area
Find personalized rates:
Index Last Change % Change
Dow 29,969.52 85.73 0.29%
Nasdaq 12,377.18 27.82 0.23%
S&P 500 3,666.72 -2.29 -0.06%
Treasuries .92 -0.03 -2.95%
Data as of 5:02am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET


Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.