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The US dollar traded flat on limited trading activity

15 Jan,2024
The US dollar traded flat on limited trading activity

The greenback traded flat on Monday, amid the holiday in the US that reduced market activity as traders examine the prospects of early interest rate reduction by Fed.

The dollar index that gauges the greenback versus its major pairs added 0.1% at 102.242 at the beginning of the holiday honoring Martin Luther King Jr.

EUR/USD advanced by 1.0953, regardless data indicating the biggest economy in the eurozone, Germany fell by 0.3% in the Q4 of 2018 and by the same figure the previous year.

GBP/USD slipped by 0.1% to 1.2738 before the swamped week with the UK economic figures as eyes will be on the unemployment data, the CPI and retail sales.

USD/JPY advanced by 0.4% to 145.51, as the yen was under pressure by the ongoing predictions that BOJ will mostly stick to its ultra dovish stance during this month’s meeting.

The CPI in Japan scheduled to release this week is anticipated to demonstrate a persistent decrease in inflation.

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