Dollar and major currencies steady ahead of US midterm elections

The dollar and other major currencies held steady on Monday as investors shifted their attention to the upcoming US midterm elections scheduled for this week.

The euro remained near a 17-month low at $1.1159 in early Asian trading, while the British pound was little changed at $1.3387.

The dollar index, which tracks the US currency against a basket of peers, was stable at 101.94.

In other currency markets, the Japanese yen slipped 0.15% to 157.78 per dollar, while the Australian dollar was steady at $0.7033 ahead of Tuesday’s monetary policy decision. The Reserve Bank of Australia is widely expected to raise interest rates to 4.85%, the highest level in nearly two decades.

The New Zealand dollar edged down 0.11% to $0.5625, after falling 1.2% last week following a surprise decision by the Reserve Bank of New Zealand to keep interest rates unchanged.