Dollar firms, yen steady after Japan inflation holds above BOJ target
By Ankur Banerjee
SINGAPORE (Reuters) – The dollar was steady on Friday as data pointed to U.S. labour market resilience that could lead the Federal Reserve to keep interest rates higher for longer, while the yen strengthened after Japan’s core consumer inflation re-accelerated in June.
Central bank meetings from Europe, Japan and the United State are due next week, with investors parsing through data to better gauge monetary policy paths they will likely chart.
The Japanese yen strengthened 0.08% to 139.97 per dollar after nationwide core consumer price index rose 3.3% in June from a year earlier, matching a median market forecast, but remained above the Bank of Japan’s 2% target.
The data bolsters the chances the BOJ will revise up this year’s inflation forecast in fresh projections due next week.
Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA), said the market expectations for a BOJ policy tightening have ebbed and flowed over the past year.
“The window for the BOJ to tighten policy is narrowing,” Kong said, adding that CBA’s base case is for the BOJ to keep monetary policy unchanged this year.
BOJ Governor Kazuo Ueda earlier this week said Japan was still distant from sustainably achieving the bank’s 2% inflation target, dousing speculation that a tweak to yield curve control was on the cards next week.
The yen has slipped about 1% against the dollar this week and is on course to snap its two-week winning run.
Meanwhile, data overnight showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, touching the lowest level in two months amid ongoing labour market tightness.
Ryan Brandham, head of global capital markets, North America at Validus Risk Management said the jobless claims figures have now returned to healthy ranges after a slight increase in early June.
“The U.S. labour market continues to show resilience to previous Fed hikes. This result will not deter the FOMC from proceeding with hiking next week.”
Markets expect a 25 basis point hike from the Fed next week and the odds of the U.S. central bank to continue raising rates nudged up after the data.
Against a basket of currencies, the dollar rose 0.03% at 100.78, after gaining 0.5%. The index is on course for a 1% gain in the week.
The euro rose 0.04% to $1.1132, having dropped 0.6% on Thursday. The European Central Bank is expected to raise interest rates by 25 basis points on July 27, according to all economists in a Reuters poll, a slight majority of whom were now also expecting another hike in September.
The Australian dollar fell 0.28% to $0.676, while the kiwi fell 0.34% to $0.621.
(Reporting by Ankur Banerjee in Singapore; Editing by Sam Holmes)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.
Pingback: กระเบื้องยาง SPC
Pingback: ปังปังคาสิโน
Pingback: ngiyaw-ebooks.org ﾄ妥｡nh bom li盻「 ch蘯ｿt
Pingback: betflik19
Pingback: Buy DANIEL DEFENSE DDM4ISR UPPER RECEIVER GROUP Online
Pingback: Ford Everest
Pingback: OLE777
Pingback: ปั่นสล็อตมันส์ๆ บน 168 Galaxy slot
Pingback: True Wallet สล็อต ไม่มีขั้นต่ำ
Pingback: slot online อัพเดทใหม่
Pingback: เกียรติบัตรออนไลน์
有道词典是由网易有道出品的全球首款基于搜索引擎技术的全能免费语言翻译软件。简介. 支持中文、英语、日语、韩语、法语、德语、俄语、西班牙语、葡萄牙语、藏语、西语等109种语言翻译。拍照翻译、语音翻译、对话翻译、在线翻译、离线翻译更顺畅。更多的翻译 https://www.youdaoo.com
Pingback: ออกแบบเสื้อยืด
Pingback: ที่ปรึกษาขออย
Pingback: https://die-christen.co.za/2025/03/19/soft2bets-underskning-gaminginfrastrukturlsningar-19/
Pingback: เครื่องเป่าแอลกอฮอล์
Pingback: altogel
Simply want to say your article is as astonishing. The clearness on your submit is just great and that i can think you’re a professional on this subject. Fine together with your permission allow me to grasp your RSS feed to keep updated with drawing close post. Thanks a million and please keep up the rewarding work.
Pingback: the official website of 333 Boom Banks in the UK
Este site é realmente fascinate. Sempre que acesso eu encontro coisas boas Você também pode acessar o nosso site e saber mais detalhes! conteúdo único. Venha descobrir mais agora! 🙂
Pingback: InOut Games
I enjoy the efforts you have put in this, thanks for all the great posts.
Pingback: essentials fear of god
Pingback: play book of ra
This is really fascinating, You are an excessively skilled blogger. I have joined your rss feed and look ahead to searching for extra of your excellent post. Also, I have shared your web site in my social networks!
Pingback: hookups local
The next time I read a blog, I hope that it doesnt disappoint me as much as this one. I mean, I know it was my choice to read, but I actually thought youd have something interesting to say. All I hear is a bunch of whining about something that you could fix if you werent too busy looking for attention.
I like this web site very much, Its a really nice office to read and find information.
Terrific work! This is the type of information that should be shared around the internet. Shame on the search engines for not positioning this post higher! Come on over and visit my website . Thanks =)
Hello! This is my 1st comment here so I just wanted to give a quick shout out and tell you I genuinely enjoy reading your articles. Can you suggest any other blogs/websites/forums that go over the same topics? Thanks a lot!
Pingback: รับจดทะเบียนบริษัท
I like forgathering utile information , this post has got me even more info! .
Wow, amazing blog layout! How long have you been blogging for? you make blogging look easy. The overall look of your website is excellent, as well as the content!
I like this post, enjoyed this one thanks for putting up. “Abortion is advocated only by persons who have themselves been born.” by Ronald Reagan.
I like the efforts you have put in this, appreciate it for all the great content.
I have recently started a web site, the info you offer on this web site has helped me greatly. Thank you for all of your time & work.
I conceive this web site contains very great indited content material content.
Lovely site! I am loving it!! Will be back later to read some more. I am bookmarking your feeds also