2023-08-28 15:49:00
© Archyde.com. Illustrative image of US dollar banknotes in a Archyde.com archive photo.
New York (Archyde.com) – It rose to its highest level in nine months once morest Monday, but fell once morest a basket of currencies following Federal Reserve Chairman (US Central Bank) Jerome Powell on Friday left the door open to the possibility of raising interest rates once more.
The dollar recorded 146.685 Japanese yen, its highest level since November 9.
Traders are watching for any signs of Japanese authorities’ intervention in the currency market as the yen weakens.
Bank of Japan Governor Kazuo Ueda said on Saturday that the bank will maintain the current approach to monetary policy, as Japan’s core inflation remains “slightly below” the 2 percent target.
The dollar index, which measures the greenback once morest six other currencies, fell 0.08% to 104.07, following hitting its highest level since early June at 104.44 on Friday.
CME Group’s Videowatch showed that markets expect the chance of the Federal Reserve keeping interest rates unchanged next month at 81 percent, but the probability of raising interest rates by 25 or 50 basis points in November is now expected at 57 percent versus 43. percent a week ago.
It rose 0.11% in the latest trading to $1.0806, following hitting $1.07655 on Friday, its lowest since June 13.
(Prepared by Amira Zahran and Mohamed Attia for the Arabic Bulletin – Edited by Ayman Saad Muslim)
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