2024-01-22T10:34:08+00:00
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/ The US dollar is struggling to maintain its gains during early trading on Monday, as upcoming central bank decisions in Japan and Europe and fluctuating market expectations about a US interest rate cut halted its data-driven rally late last week.
The Japanese yen was the notable exception in otherwise quiet trading, pulling away from a one-month low of $148.80 on Friday to rise to $147.74. It was also the biggest loser against the dollar this year, falling about 5 percent in a rapid rebound from a December rally to a five-month high near $140.
The Bank of Japan begins a two-day meeting today. Bets on a shift away from easing monetary policy at the meeting have receded in the wake of the earthquake that struck Japan’s west coast on New Year’s Day, along with cautious comments from bank officials.