The Federal Reserve (Fed) meets starting today to analyze forward rate policy. The dollar is weakening in the world.
The dollar is down 0.02% at 105.67 against a basket of currencies ahead of the Fed meeting, after falling 0.25% in the previous session. strengthens against and in this Tuesday, April 30. The japanese currency gives up part of its strong gains from the previous day, caused by what is suspected to have been an intervention by the monetary authorities.
The japanese currency drops 0.35% to 156.90 units per dollarbut far from its 34-year low of 160.245 reached on Monday, when Traders claim that Tokyo’s yen buying intervention fueled a striking rally of almost six yen.
He dollar fell briefly and held for a couple of minutes at 156.50 yen, before recovering to 157.
The intervention of the Bank of Japan
The Japanese authorities could have spent a few 5.5 trillion yen ($35.05 billion) in supporting the currency on Monday, data from the Bank of Japan.
The Federal Reserve (Fed) begins its two-day monetary policy meeting on Tuesday, in which it is expected to maintain the rates in the range between 5.25% and 5.5%while sending a hard-line message.
Operators have recently cut Fed rate cut bets this year amid better-than-expected US economic data and persistent inflation figures.
According to CME Group’s FedWatch tool, the probability of a rate cut in September was estimated at only 44%.
Dynamics of the euro and the yuan
He euro falls 0.1%, au$s1.0731. He Chinese yuan fell 0.1% to 7.2477 units per dollar and has depreciated 2% against the greenback so far this year, despite support from the central bank.
Source: Ambito
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