FOREX-Dollar heading for first monthly gain since September

By Rae Wee and Alun John
SINGAPORE/LONDON, Feb 28 (Reuters) – The U.S. dollar
steadied on Tuesday, having lost ground a day earlier, climbing
particularly against the Japanese yen, and on track for its
first monthly gain since September.

The greenback’s rally gathered momentum in recent weeks as
upbeat economic data led to mounting expectations that the U.S.
Federal Reserve will have to raise interest rates more than
initially expected.

The dollar index , which measures the currency against
a basket of peers, was flat at 104.7, but was still set for a
February gain of 2.5%, its first monthly increase since

“The dollar has made its rebound – fully justified – on the
strength of the January numbers that came through in February,
and the repricing for the Fed,” said Ray Attrill, head of FX
strategy at National Australia Bank,…

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