2024-01-24T06:50:31+00:00
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/ The dollar hovered near a six-week high against its major counterparts, on Wednesday, as investors strengthened their expectations that the Federal Reserve (the US central bank) would not rush to cut interest rates in the face of a resilient US economy.
However, the Japanese yen rose as expectations rose for a stimulus exit in March, following hawkish comments from the Bank of Japan on Tuesday.
The US dollar index – which measures the currency’s performance against six rivals, including the euro and the yen – settled at 103.48 after rising to the highest level since December 13 at 103.82 in the previous session.
The euro settled at $1.08565 after falling to $1.0822 on Tuesday for the first time since December 13.
The British pound rose slightly to $1.2694, making up some ground after falling overnight by 0.2%. The Bank of England announces its policy decision on February 1.
The Japanese yen rose some ground on Wednesday, after a volatile session the day before, after the Bank of Japan chose to keep stimulus settings unchanged, as expected, but central bank President Kazuo Ueda hinted at a possible end to negative interest rates in April or even March.
The dollar fell 0.17 percent to 148.085 yen after swinging from a low of 146.99 to a high of 148.70 on Tuesday.
The dollar settled at 1.3462 Canadian dollars, after falling 0.15% on Tuesday.
The Chinese yuan stabilized in external trading at 7.1660 to the dollar, remaining close to the highest level in nearly two weeks at 7.1635.
Bitcoin rose to a record high of $49,048 on January 11, a day after approval, but fell to a session low of $41,509.
($1 = 7.1720 Chinese yuan).