Investing.com - The dollar slid lower against the euro and the yen on Monday, ahead of the upcoming Federal Reserve monetary policy announcement, which it was hoped would provide more clarity on the timing of an initial rate hike.
EUR/USD advanced 0.38% to 1.1026 from 1.0983 late Friday.
USD/JPY was last down 0.33% to almost two-week lows of 123.39.
Investors were turning their attention to Wednesday’s Fed statement to see if policymakers will give any indication on the timing of a rate lift-off.
On Friday, the Fed mistakenly published a staff projection pointing to a quarter point rate hike later this year.
The dollar has been boosted in recent weeks by mounting expectations that the U.S. central bank could raise rates as soon as September if the economy continues to improve as expected.
The single currency remained supported as talks between Greece and its international creditors on a new bailout package were expected to get underway.
Talks had been expected to start on Friday but were delayed by logistical issues, including security matters.
A new agreement must be reached before August 20 when Greece must repay more than €3 billion to the European Central Bank.
The euro was steady against the yen, with EUR/JPY at 136.06.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.35% to 97.01.