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The greenback steadied on anticipated US CPI figures

By Rana Gharib
09 May,2024
The greenback steadied on anticipated US CPI figures

The greenback muted on Thursday as traders are slowing down in anticipation of the upcoming week’s inflation figures that will directly impact the interest rate trajectory, while hawkish tune from BOJ’s officials buoyed the yen from plunging further.

However the yen was bolstered by Bank of Japan’s summary on Thursday, which demonstrated a hawkish tone with many demands for maintained raise of interest rate.

The dismal US job figures and the previous week’s policy meeting drove markets to raise bets of possible double rate trim during 2024.

The dollar index that gauges the greenback versus its major pairs muted at 105.51.

EUR/USD steadied at $1.0748.

GBP/USD muted at $1.24975 before BOE’s policy announcement scheduled later on Thursday.

The yen muted at 155.57 per dollar.

USD/JPY crept up during the latest days following a slid over 3% the earlier week, the most noticeable weekly slid not seen since the beginning of December, couple of years ago.

 

 

 

 

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