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The greenback rises on anticipated inflation figures

28 Mar,2024
The greenback rises on anticipated inflation figures

The greenback edged up on euro and sterling on Thursday following the US fed official that there is no rush to trim interest rate, while traders are anticipating major economic figures and were reluctant to move on the yen on worries of Japanese intervention.

The dollar index that gauges the greenback versus its major pairs advanced by 0.16% at 104.6. Touching a peak not seen since mid-February.

The market has loosened its expectations that the Fed will drop interest rates for the first time at its June meeting.

The CME FedWatch tool indicates that it is currently priced at a 60% possibility, down from 67% at this time the previous week.

EUR/USD dipped 0.33% at $1.0792 its steepest plunge in five weeks.

GBP/USD dipped by 0.25% at $1.2609.

The yen muted at 151.42 per dollar, having closed on Wednesday just below the 152 level, the lowest since 1990, when the head of Japan's central bank indicated, they were prepared to step in and stop further losses.

 

 

 

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