The U.S. dollar showed signs of strength as it edged higher leading up to its highest level in November just before the conclusion of the latest Federal Reserve policy-setting meeting. The Dollar Index, which tracks the greenback against a basket of currencies, climbed 0.1% to 106.240, reaching as high as 106.380, nearing the 106.51 mark,
Forex
The anticipation of the Federal Reserve meeting this week has led to a decline in most Asian currencies. Traders are largely biased towards the dollar, with the Japanese yen experiencing a slight fall. This follows a period of anticipated interest rate cuts by the Fed, which were gradually being priced out due to hotter-than-expected U.S.
The U.S. dollar experienced a decline on Monday, just before the latest Federal Reserve meeting. The Dollar Index, tracking the greenback against a basket of six other currencies, was noted to be 0.2% lower at 105.630, despite having seen a rise to 106.00 last Thursday. Investors have been closely monitoring the movements of the dollar,
Recent reports have indicated a sudden surge in the value of the Japanese yen against the US dollar. Traders have pointed to intervention by Japanese authorities as the cause of this increase in value. The dollar fell sharply to 156.55 yen from as high as 160.245 earlier in the day, indicating a significant shift in
The Japanese yen has been on a downward trend recently, with little relief in sight. Despite some signals from the Bank of Japan regarding monetary policy, the currency continued to weaken, pushing it to levels not seen since 1986. The USDJPY pair, which measures the amount of yen needed to purchase one dollar, experienced a
The recent fluctuations in the U.S. dollar have left investors wondering about the impact of key U.S. inflation data on the Dollar Index. With the Federal Reserve meeting approaching, market sentiment is expected to be heavily influenced by the upcoming release of crucial economic indicators. Analysis of U.S. Economic Indicators The U.S. gross domestic product
The U.S. dollar showed signs of weakness on Thursday, after reaching five-month highs the week before. The Dollar Index, which tracks the greenback against a basket of other currencies, was down by 0.2% at 105.445. This decline comes ahead of the release of key U.S. growth data, mainly the first-quarter gross domestic product (GDP) figures.
The yen has been struggling against the dollar, with the latter reaching a 34-year high of 155.74 yen. Speculation is rife that the Japanese government might intervene to strengthen the yen, especially with the Bank of Japan (BOJ) convening for a two-day rate-setting meeting. The dollar’s recent surge past the 155 yen level has left
Despite fears of government intervention, most Asian currencies experienced a slight rise on Wednesday as the dollar showed signs of weakness. This shift in the currency market provided some relief to regional markets, although there was continued underperformance in the Japanese yen. The greenback had retreated from recent five-month peaks due to soft purchasing managers
UBS recently adjusted its forecast for the USD/JPY currency pair, citing the strength of the US dollar as a key factor. The firm increased its quarter-end predictions for the pair to ¥155 for June 2024, followed by ¥152, ¥148, and ¥145 for the subsequent quarters through March 2025. This revision comes as the market adjusts