But Waller said on Sunday that last week’s inflation data was “just one point of data” and that other similar readings would be needed to convincingly show that inflation was slowing. However, he added that the Fed could start thinking about raising interest rates at a slower pace.
The yield on the two-year US Treasury note, which reflects expectations for rate moves, rose to 4.39%, after falling to 4.29% on Friday, while the 10-year yield gained 6 basis points to 3.87%, after falling to a 1-month low on Friday.
The dollar indexwhich measures the greenback’s performance against a basket of six currencies including the yen, euro and sterling, was up 0.1% at 106.85, off a nearly three-month low of 106.27. which marked on Friday.
Sterling fell before Britain’s Chancellor of the Exchequer announced a budget plan on Thursday that is expected to set out tax hikes and spending cuts. The pound was down 0.4% at $1.1787, after rising 4% in the previous two sessions.
Cryptocurrencies were under pressure due to turmoil caused by the crash of crypto exchange FTX. FTX’s native token FTT was last down 2.4% at $1.38, taking its month-to-date losses to nearly 95%.
The Chinese yuan rose to a nearly two-month high against the dollar after the central bank raised its official guidance to the most since 2005, when Beijing abandoned the currency’s peg to the dollar for a decade.
Elsewhere, the Japanese yen was down 0.9% against the greenback at 140 per dollar, while the euro was down 0.2% at $1.0324.
Source: Ambito
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