Ammon News - The dollar clung to its gains on Monday while collapsing prices of precious metals rattled financial markets, with investors weighing what a Federal Reserve under Kevin Warsh might look like.

Moves in currencies were fairly insulated from a broader market rout triggered by a plunge in gold and silver which spilled over into equity markets, as investors were left selling positions in profitable trades to meet margin calls.

Against a basket of currencies, the dollar was last at 97.21, holding to Friday's 1% gain.

The euro was comfortably away from the $1.20 level as it last stood at $1.1848, while sterling fell 0.16% to $1.3664.

The Japanese yen was a touch weaker at 154.82 per dollar on Monday, pressured in part by the dollar's strength.

Elsewhere, the Australian dollar fell 0.67% to $0.6916, as it struggled from the broad risk-off mood in markets. The Reserve Bank of Australia sets rates on Tuesday, with expectations it will deliver a hike.

The New Zealand dollar fell 0.37% to $0.5997.

Reuters