Dollar gains, on track for second straight monthly loss
Moves were fairly muted with the pound down 0.2% to $1.2420 and the euro down 0.1% at $1.09775, neither currency having been able to hold respective multi-month highs above $1.25 and $1.10 reached in mid April.
Both the Fed and the ECB will meet in early May but before that markets will digest U.S. first quarter GDP and personal consumption expenditures data, looking for signs of economic strain and evidence of sticky inflation for clues on the Fed's policy path.to raise rates by another 25 basis points at next week's Federal Open Market Committee meeting, though the focus will be on guidance for future moves.that U.S.
Markets are expecting the ECB to raise rates by a quarter point, with the possibility of a 50bp hike. Euro zone inflation and growth data are also due this week.
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