2024-05-13 07:30:33
Live – The dollar remained stable against major currencies today Monday as investors awaited US inflation data to assess the possibility of lower interest rates this year..
It is worth noting that after the weaker than expected US jobs report for April and the Federal Reserve’s pessimistic policy announcement earlier this month, expectations have increased for a rate cut. interest during the current year..
Markets expect a 61.2% chance of a rate cut at the Fed’s September meeting, with rates expected to fall by around 50 basis points over the course of the year.
But comments made by Fed officials last week were varied, with officials discussing whether interest rates should stay high longer to combat inflation, or be cut later this year .
The dollar index, which measures the U.S. currency against a basket of currencies, stabilized at 105.31, following its first weekly rise last week, following two straight weeks of declines..
Commonwealth Bank of Australia currency analyst Carol Kong said this week’s consumer price index will be crucial to the Federal Open Market Committee’s decision to begin easing interest rates in september.
As markets await consumer price data, attention remains focused on the yen, amid persistent risks of intervention by Japanese authorities on the currency..
Against the yen, the dollar stabilized at 155.80, after hitting its highest level since May 2 at 155.965..
The dollar-yen pair rose after a 3% decline earlier this month, the largest weekly percentage decline since early December 2022..
The euro was little changed, recording $1.07695, as the eurozone prepares for inflation on Friday..
British pound stands at $1.2522.
While the Chinese yuan fell in external trading 0.1% to 7.2414, while the domestic yuan fell to its lowest level since April 30 at 7.2385, traders await the announcement by the United States new tariffs on China..
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Appointments:
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