2024-01-08T05:48:09+00:00
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/ The dollar stabilized on Monday, ahead of the announcement of an important report on US inflation data later this week, which provides more indications on the monetary policy expectations of the Federal Reserve (the US central bank), after the markets started the year with a hesitant start with a reduction in bets on… Reducing interest rates.
The dollar rose 0.05 percent against the yen to 144.67, continuing its gains from last week when it jumped 2.6 percent against the Japanese currency in its best weekly performance since June 2022.
The New Zealand dollar rose 0.1 percent to $0.6248 after falling 1.2 percent last week. The dollar index settled at 102.38.
The dollar’s rise received support from the recovery in yields on US Treasury bonds after traders adjusted their expectations for the pace and size of US interest cuts this year.
But the reading of US inflation data scheduled to be announced on Thursday may change these views again, after data on Friday revealed that employers in the United States hired more workers than expected in December, while wages increased strongly, indicating a labor market that is not… Still strong and flexible.
As for the rest of the currencies, the British pound increased 0.02 percent to $1.2721, while the euro rose 0.08 percent to $1.0948 after falling 0.9 percent last week.
The Australian dollar rose 0.1 percent to $0.6721, recovering some of the losses it suffered last week when it fell 1.5 percent.