TOKYO, April 2 ― The US dollar hovered near a 4-1/2-month high against major peers today as traders rushed to push back bets for the Federal Reserve's first interest rate...
The dollar held close to a six-week peak versus the euro and sterling reached yesterday, after US data unexpectedly showed the first expansion in manufacturing since September 2022. — Reuters picTOKYO, April 2 ― The US dollar hovered near a 4-1/2-month high against major peers today as traders rushed to push back bets for the Federal Reserve's first interest rate cut this year.
The US rate futures market now factors in 61.3 per cent odds of a Fed rate cut in June, down from about 70.1 per cent probability a week ago, according to the CME's FedWatch tool. The Japanese yen firmed slightly today to 151.565 per dollar, after dipping to 151.77 the previous day. “Despite heightened risk of intervention, the BoJ's policy stance remains very accommodative and Japanese data continue to show the fragility of their 'virtuous cycle' economic recovery,” said Westpac's Franulovich.
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