Dollar fluctuates as traders look for major bank clarity
On Tuesday, the evergreen buck meandered against the Japanese yen as well as other key currencies, amid uncertainty over the timing of the Fed’s next rate lift. Lack of clarity over the BOJ’s policy outlook also made the Japanese yen trade sideways.
The greenback’s surging momentum since Friday’s American jobs data against the Japanese yen and the common currency has eased, weighed on by downbeat mood over the pace of the Fed’s rate hikes.
The Fed’s comments are suggesting they will do at least once this year, though the market isn’t convinced yet.
More Fed official speeches are expected to be delivered later this week, including one by John Williams, Fed Bank of San Francisco President.
The greenback traded at ¥103.66, compared with Monday’s outcome of ¥103.44 in North American trading hours. The euro stood intact at $1.1148. As for the sterling, it was at $1.3325, rising from $1.3303, having obtained a boost on Monday on the issue of surprisingly strong British services activity data.