2023-08-28 22:07:41
JPYAgainst the dollar on Monday (28th) briefly hit a nine-month low,dollar indexThe decline came as investors awaited key economic data due later in the week and also focused on whether Japanese authorities would intervene to provide support for the struggling Japanese economy.JPYprovide support.
ICE, which tracks the dollar once morest six major currencies, in late U.S. trade dollar index (DXY) edged down 0.05 percent to 104.02.
US dollar once morestJPYThe highest intraday rose to 146.75 JPYthe highest since November 9, before the deadline rose 0.08% to 146.53 JPY.along withJPYTraders were on the lookout for any signs of Japanese authorities intervening in currency markets.
Bank of America (BofA) analysts pointed out that since August 9, the Federal Reserve’s (Fed) overseas repurchase facility and managed US Treasuries have decreased by regarding 18 billion US dollars, which may reflect modest intervention activities.
Bank of Japan (central bank) Governor Ueda Kazuo said on Saturday (26th) that as Japan’s underlying inflation rate is still slightly below the 2% target level, it will continue to maintain the current monetary policy approach. Meanwhile, expectations for the Fed to keep interest rates high for longer have pushed the dollar higher in recent weeks as the U.S. economy remains resilient.
Fed Chairman Jerome Powell (Jerome Powell) said on Friday (25th) that the Fed may need to raise interest rates further given that inflation is still high, but he also promised to be cautious in future meetings. Bet the Fed will raise rates once more this year.
The CME Group’s FedWatch tool shows that the market sees a 79% chance the Fed will hold stance next month, but the chances of a rate hike of one or two yards in November have risen to 62% from 43% a week ago.
Including Thursday’s (31st) European inflation, US personal consumption expenditures price index (PCE), and Friday’s (1st) US non-farm payrolls report for August, a number of economic data will be released this week.
EURIt recovered from a two-month low hit last week, rising more than 0.2 percent to $1.0817. Due to differences in the economic outlook of European countries,EURIt has been weak once morest the dollar in the past month.
The People’s Bank of China has previouslyRMBThe mid-price was set at a higher-than-expected level, makingRMBThe exchange rate once morest the US dollar stabilized,RMBThe spot rate was roughly flat at 7.29 RMBAgainst 1 dollar.
more sensitive to the Chinese economyAustralian dollarIt rose 0.4% to $0.6428, as concerns over China’s weak post-epidemic recovery weighed on sentiment this month, leaving theAustralian dollarunder pressure.
Tommy Wu, senior economist at Commerzbank, believes market sentiment is unlikely to improve significantly until China reverses its weak economic momentum.
As the latest move to boost market confidence, China halved the stamp duty on securities transactions from Monday (28th).
As of regarding 6:00 on Tuesday (29th) Taiwan time Price:
dollar indexCall 104.0212. -0.1701%
EURExchange rate once morest US dollar (EUR/USD) 1 EURAgainst $1.0816. +0.2131%
GBPExchange rate once morest USD (GBP/USD) 1 GBPAgainst $1.2600. +0.1988%
Australian dollarExchange rate once morest US dollar (AUD/USD) 1 Australian dollarAgainst $0.6429. +0.4374% USD/USDCanadian Dollars (USD/CAD) exchange rate quoted 1 US dollar to 1.3594 Canadian Dollars. -0.0147% USD/USDJPY (USD/JPY) exchange rate quoted 1 US dollar to 146.52 JPY。+0.0820%
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