Investing.com UK on Nostr: Dollar consolidates ahead of key inflation release; yen ========== The U.S. dollar ...
Dollar consolidates ahead of key inflation release; yen
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The U.S. dollar edged lower in early European trade Thursday, handing back some of the previous session’s gains, while the Japanese yen fell into intervention territory. The Dollar Index traded 0.1% lower at 105.650. The greenback has slipped back Thursday, after posting gains of around 0.4% during the previous session, climbing close to two-month highs. U.S. Federal Reserve Governor reiterated her baseline view that "inflation will decline further with the policy rate held steady," and that rate cuts will "eventually" be appropriate if inflation does move sustainably toward 2%. Fed officials have repeatedly called for more data showing inflation was retreating before agreeing to interest rate cuts, putting Friday’s PCE price index data in the spotlight. The French elections are due to kick off this weekend, with the political turmoil in France in the wake of President Emmanuel Macron's shock snap election weighing on the single currency. USD/JPY traded 0.1% lower to 160.59, after the yen touched its weakest against the dollar since December 1986 on Wednesday. Japan's top currency diplomat, Masato Kanda, said authorities were "seriously concerned and on high alert" about the yen's rapid decline. The pressure on the Japanese currency continued, despite repeated warnings from Japanese officials of possible intervention in the face of excessive volatility. The Chinese yuan edged marginally higher to 7.2689, hovering at a seven-month high on Thursday, following a seventh consecutive weak midpoint fix by the People’s Bank of China.
#Dollar #Inflation #Yen #FederalReserve #PcePriceIndex #FrenchElections #JapaneseCurrency #ChineseYuan
https://uk.investing.com/news/forex-news/dollar-consolidates-ahead-of-key-inflation-release-yen-3565911
==========
The U.S. dollar edged lower in early European trade Thursday, handing back some of the previous session’s gains, while the Japanese yen fell into intervention territory. The Dollar Index traded 0.1% lower at 105.650. The greenback has slipped back Thursday, after posting gains of around 0.4% during the previous session, climbing close to two-month highs. U.S. Federal Reserve Governor reiterated her baseline view that "inflation will decline further with the policy rate held steady," and that rate cuts will "eventually" be appropriate if inflation does move sustainably toward 2%. Fed officials have repeatedly called for more data showing inflation was retreating before agreeing to interest rate cuts, putting Friday’s PCE price index data in the spotlight. The French elections are due to kick off this weekend, with the political turmoil in France in the wake of President Emmanuel Macron's shock snap election weighing on the single currency. USD/JPY traded 0.1% lower to 160.59, after the yen touched its weakest against the dollar since December 1986 on Wednesday. Japan's top currency diplomat, Masato Kanda, said authorities were "seriously concerned and on high alert" about the yen's rapid decline. The pressure on the Japanese currency continued, despite repeated warnings from Japanese officials of possible intervention in the face of excessive volatility. The Chinese yuan edged marginally higher to 7.2689, hovering at a seven-month high on Thursday, following a seventh consecutive weak midpoint fix by the People’s Bank of China.
#Dollar #Inflation #Yen #FederalReserve #PcePriceIndex #FrenchElections #JapaneseCurrency #ChineseYuan
https://uk.investing.com/news/forex-news/dollar-consolidates-ahead-of-key-inflation-release-yen-3565911