He dollar rise in this world Thursday March 28 against the euro, after a monetary policy official at the Federal Reserve (FED), Christopher Waller, said he was in no hurry to cut rates and while the market waits key US economic data.
In a speech late Wednesday, Waller said recent disappointing inflation data confirms the desirability of the central bank refrain from cutting its short-term interest rate target. Market expectations that the first rate cut occur at the June meeting of the Fed have decreased slightly. The current probability is 64%, up from 67% last week, according to CME’s FedWatch tool.
The operators US Core Personal Consumption Expenditure Inflation Figures Now Await, which will be published on Friday, as well as the appearance of the president of the Federal Reserve, Jerome Powell. “Waller is one of the Fed’s most senior policymakers and while I don’t think this is a big move, his remarks have given some momentum to the market, which has been stuck in very tight trading ranges,” said Lee Hardman. , currency strategist at MUFG.
The yen marks slight rise
He and inmeanwhile, rises slightly to 151.26 units per dollarafter having touched 152 on Wednesday, its lowest level since 1990, before the top Japanese monetary officials suggested that they were willing to intervene to avoid further falls.
Japanese authorities held a meeting on Wednesday on the currency weakness and they intensified their verbal warnings, putting the market on alert for any signs that words are backed by actions.
Japan intervened in the currency market three times in 2022, selling dollars to buy yen, first in September and again in October, when the yen was sliding towards a 32-year low of 152 units per dollar.
The euro, the pound and the yuan
He euro falls 0.16%, au$s1.0809after falling to $1,007, a five-week low, and the pound It was trading almost unchanged at US$1,264. The dollar index fell a marginal 0.05% to 104.37 units after reaching 104.73, its highest level since mid-February.
Meanwhile, the central bank of china set the yuan’s fix at the widest gap against the Reuters estimate in nearly five months, as authorities step up efforts to prevent sharp declines in the currency. He yuan plummeted to a four-month low last Friday.
He yuan in continental markets it operated practically stable in 7.2278 units per dollarwhile the offshore yuan was trading at 7.2590 units per dollar.
Bitcoin, meanwhile, adds 2.93% to US$70,888.
Source: Ambito
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