The American, Australian and New Zealand dollars remain stable. The rupee may find a break, while the euro, yuan, and rand fall

The dollar held steady on Monday after US inflation data showed only a modest rise last month, allaying some concerns about the pace of US rate cuts next year, while the yen oscillated around 156 to one dollar, raising the possibility of intervention. The rise in the dollar, combined with the standstill by the Bank of Japan last week and comments from Governor Kazuo Ueda reducing the chances of a Japanese rate hike next month, has left the yen entrenched at low levels that could prompt authorities

The Australian and New Zealand dollars were on a more stable basis on Monday after Treasuries rebounded following a benign reading of US inflation, although the technical outlook still seems bearish for both. The New Zealand dollar held steady at $0.5653, after gaining 0.5% on Friday to $0.5672. The support is at $0.5608, the lowest level in two years, and the resistance is at $0.5750. The next major bearish target is a low starting in October 2022 at $0.6170, when it needs to recover $0.6350 to break the downward trend. It is expected to end the year down 8.3%, the worst level since 2018 The Australian and New Zealand dollars were on a more stable basis on Monday after Treasuries rebounded following a benign reading of US inflation, although the technical outlook still seems bearish for both. The New Zealand dollar held steady at $0.5653, after gaining 0.5% on Friday to $0.5672. The support is at $0.5608, the lowest level in two years, and the resistance is at $0.5750. The next major bearish target is a low starting in October 2022 at $0.6170, when it needs to recover $0.6350 to break the downward trend. It is expected to end the year down by 8.3%, the worst level since 2018

The euro fell slightly against the dollar on Monday as markets continued to digest the recent series of central bank meetings that pushed the dollar to a two-year high and created expectations of divergent global rate cuts in 2025.

The Indian rupee is expected to open on Monday with little change, after reaching an all-time low in the previous session, and could register modest gains after the dollar pulled back from a two-year peak in light of an inflation figure am& lower than expected. The 1-month undeliverable futures contract indicated that the rupee would open near 85.02-85.03 for the US dollar compared to its close at 85.0150 in the previous session. The rupee fell to an all-time low of 85.10 on Friday morning but recovered slightly at the close, helped by inflows

The South African rand weakened on Monday during a restricted trading session as the end of the year approached. At 0924 GMT, the rand traded at 18.39 against the dollar, about 0.5% lower than its previous close. South Africa's 2030 benchmark government bond was slightly stronger, with a yield down 1.5 basis points to 9.12%

The Chinese yuan fell slightly against the dollar and continued to hover near a key threshold on Monday, as significantly strengthened official guidance stabilized the impact of widening yield differentials between the world's two largest economies. At 02:30 GMT, the onshore yuan was down 0.02% to 7.2955 per dollar, and not far from the psychologically important level of 7.3 per dollar and a 13-month low of 7.2999 reached last week. Its offshore counterpart traded at 7.3016 yuan to