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Saturday, February 4, 2023

The super dollar moved away from its low and the pound climbed pushed by employment data

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In the meantime, Sterling led gains against the dollar and hit a five-week high after data showed the pace of wage growth in Britain, a reading closely watched by the Bank of England, picked up again.

But the market focus remained on the Bank of Japan. Markets Speculate on a Change or End of Yield Curve Control (YCC) Policyas investors pushed 10-year bond yields above the BoJ’s ceiling of 0.5% and the volume of debt purchases to support this stance is extremely high.

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The Japanese central bank is expected to make a crucial monetary policy decision on Wednesday after a two-day meeting.

“The market is on edge to see if the Bank of Japan takes action,” said Amo Sahota, chief executive of currency consultancy Klarity FX in San Francisco.

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In afternoon trading in New York, the dollar was down a slight 0.2% against the yen at 128.24 yen. Against the Swiss franc, the dollar fell 0.5% to 0.9220 units.

The pound added 0.7% to $1.2278after rising to a five-week high of $1.2299 after data showed UK wage growth accelerated more in the three months to November, while job creation moved faster than expected. expected.

While, The dollar index traded with a slight rise of 0.1% to 102.37 units in comparison with a basket of peer currencies. The euro was down 0.3% at $1.0793.

Source: Ambito

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