(Adds details, updates prices) By Karen Brettel NEW YORK, May 1 (Reuters) – The dollar fell on Monday before the Federal Reserve (Fed) is expected to raise rates by another 25%. Basis points rose to almost two-week highs against a basket of currencies and subsequent data showed US manufacturing hit a three-year low in April. Investors indicate that the US central bank expects him to pause rate hikes after May or that he expects the two-day meeting to end Wednesday He will raise rates further after June Focus on maintaining the potential for “A lot of people say the Fed will signal a pause, but I don’t think I can afford it,” said Mark Chandler, chief market strategist at Bannockburn Global Forex in New York. . Maintain some selectivity and flexibility. If inflation remains high, it is seen as likely to keep the Fed on a tightening cycle, assuming the labor market and other parts of the economy remain strong. The dollar rose after the Institute for Supply Management (ISM) announced on Monday that the manufacturing PMI rose to 47.1 last month from 46.3 in March. This was the lowest value since May 2020. But the details show encouraging signs of stabilization.” Other data on Monday showed U.S. construction spending rose more than expected in March, boosted by investment in non-residential structures, but single-family home construction continues to thrive amid rising mortgage rates. The dollar rose on Friday after data showed core inflation remained high in March. Next week’s consumer price index data will be watched for further signs that inflation will remain elevated. Friday’s employment data is the main economic focus of the week. It is expected to show employers added 180,000 jobs to him in April. The dollar index rose 0.41% to 102.13 after reaching 102.19, its highest since April 19th. The Euro dropped him 0.43% to $1.0970. The single currency is just below his one-year high of $1.1096 reached last Wednesday. The European Central Bank (ECB) is widely expected to raise rates by 50 basis points at his seventh consecutive meeting on Thursday. The yen continued to fall against the dollar after the Bank of Japan kept interest rates ultra-low on Friday but announced plans to review past monetary policy moves. The dollar finally rose 0.84% to ¥137.46, its highest since March 8th. Also, the Reserve Bank of Australia is widely expected to extend its rate cut on Tuesday. The Australian dollar rose 0.20% to $0.6630. It has risen from a seven-week low of $0.6573 on Friday. Trading volumes were thin on Monday as markets in many countries were closed for the May Day holiday. ================================================== ====== Currency Bid Price at 3:00PM (1900 GMT) Description RIC Last US Closing Percentage YTD Percentage High Low Last Change Session Dollar Index 102.1300 101.7300 +0.41% -1.314% +102.1900 +101.6200 EUR/USD$1.0970 $1.1017 -0.43% +2.38% +$1.1043 +$1.0965 USD/JPY 137.4600 136.3400 +0.84% +4.87% +137.4800 +136.2000 EUR/JPY 150.83 150.08 +0.50% +7.5 1% +150 .9500 +150.0400 USD/Switzerland 0.8960 0.8944 +0.18% -3.10% +0.8966 +0.8916 Sterling/USD $1.2487 $1.2569 -0.65% +3.26% +$1.2570 +$1.2481 USD/Canada 1.3543 1.3539 +0.03% -0.04% +1.3583 +1.3530 Australia/USD $ 0.663 0 $0.6617 +0.20% -2.74% + $0.6668 +0.6608 EUR/SW 0.9829 0.9853 -0.24% -0.67% +0.9855 +0.9823 EUR/GBP 0.8783 0.8766 +0.19% -0.69% +0.8794 +0.8760 NZ $0.6164 $0.6189 -0. 36% – 2.89% +$0.6199 +$0.6163 USD/USD USD /Norway 10.7380 10.6520 +0.96% +9.58% +10.7540 +10.6710 Euro/Norway 11.7822 11.7471 +0.30% +12.28% +11.8170 +11.7191 USD/Sweden 10.3335 10.2505 +0.34% – 0.71% +10.3359 +10.2467 Euro/Sweden 11.3362 11.2976 + 0.34 % +1.67% +11.3445 +11.2885 (Reporting by Karen Brettell; Editing by Angus Maxwan, Jonathan Ortiz and Barbara Lewis)
