© Reuters. US dollar coins in an illustration from the Reuters archive.
SINGAPORE (Reuters) – The dollar stabilized on Monday ahead of the announcement of an important US inflation data report later this week that provides further indications of the outlook for monetary policy at the Federal Reserve (US central bank), after markets got off to a hesitant start to the year as bets on… Reducing interest rates.
Transactions were weak in Asia in light of the public holiday for the Japanese Stock Exchange.
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. It settled at 102.38.
The dollar’s rise received support from the recovery in yields after traders adjusted their expectations for the pace and size of the US interest rate cut 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 pound increased 0.02 percent to $1.2721, while it 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.
(Prepared by Marwa Salam for the Arabic Bulletin)
2024-01-08 05:08:00
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