Dollar rises against rivals on central-bank expectations

 Monetary-policy expectations were the dominant drivers of the foreign-exchange market Tuesday, as traders sold euros, yen and Canadian dollars and bought the greenback ahead of central-bank meetings in Canada, Japan and Europe later in the week.

The dollar USDJPY, -0.80%  traded at ¥118.7710 in recent trade, its highest level against the yen in a week, down from ¥117.81 Monday afternoon.

The U.S. dollar USDCAD, -0.11%  traded as high as 1.2115 Canadian dollars, compared with 1.20 Canadian Monday.

The euro EURUSD, +0.23%  traded at $1.1554, compared with $1.16 Monday afternoon. It hit an 11-year low around $1.1480 Monday.

The Swiss franc traded slightly higher against both of its major rivals. It was at EURCHF, -0.64%   1.0107 francs per euro, compared with 1.02 Monday afternoon. One dollar bought USDCHF, -0.88% 0.8775 francs, compared with 0.88 francs Monday.

The ICE U.S. Dollar Index DXY, -0.21% a measure of the dollar’s strength against a trade-weighted basket of six rival currencies, was up 0.52% on the day to 93.0000.