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Currency: rising dollar, falling yen

09/02/2024
Source : ORISHAS FINANCE
Categories: Economy/Forex

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While traders reduced bets on how quickly the Bank of Japan could raise interest rates and how quickly the Federal Reserve will cut them, the dollar headed for a fourth gain on Friday. weekly. For its part, the yen is at a 10-month low.

The dollar index rose slightly to 104.19, after gaining 0.1% on Thursday after the data highlighted the resilience of the American labor market, further reducing expectations of a reduction by Interest rate code from the Fed. For the week, the dollar index rose 0.2%, starting at high speed after monthly jobs data last Friday and a hawkish nod from Fed Chair Jerome Powell. The New Zealand dollar rose by 0.73% earlier, supported by expectations of a delayed start to the Reserve Bank of New Zealand rate cuts or even the possibility of further increases after this week's data showed a stronger than expected job market. The Australian dollar was a bit stronger at $0.6505

.

The yen was little changed at 149.42 per dollar after trading at 149.575 earlier, its lowest level since November 27. It is heading for a drop of 0.68% this week, after losing value in five of the last six weeks

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