The dollar consolidates ahead of a key inflation report, while the yen remains close to the intervention line. The kiwi briefly jumps after the Reserve Bank of New Zealand keeps rates on hold but warns of persistent inflation. The focus is on US consumer price inflation for March, which will provide hints on the Fed's policy outlook.
The dollar consolidated on Wednesday ahead of a key inflation report later in the day, while the yen remained a whisker away from what markets believe to be the line in the sand for Japanese authorities to intervene.
The inflation data follows a strong jobs report last Friday that blew past forecasts, raising questions on how soon and how much the central bank will cut rates this year. A solid inflation number could lead markets to price out a June cut, which could propel the dollar sharply higher, said Carol Kong, a currency strategist at Commonwealth Bank of Australia.
Bank of Japan Governor Kazuo Ueda, however, brushed aside market speculation that the yen’s sharp falls could force the central bank to raise interest rates.Elsewhere, the Reserve Bank of New Zealand held the cash rate steady at 5.5% on Wednesday, as it reiterated that its previous rate hikes had helped slow the economy and constrain price rises but inflation remained above its target.
Dollar Inflation Report Yen Intervention Kiwi Reserve Bank Of New Zealand Rates US Consumer Price Inflation Fed's Policy Outlook
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Iraq Central Bank says regulated dollar transactions risingIraq, fighting a booming currency black market, has considerably increased overseas dollar transactions through the official global SWIFT system, the Central Bank vice governor said on Monday.
Read more »
Zimbabwe to keep local dollar despite losses, revamp plans, Ncube says'We will have a domestic currency, there will always be a domestic currency so there is no way that we cannot have one,' Ncube said,
Read more »
Battered Zimbabwe currency falls past 20 000 per dollar in official tradeOn Friday, the currency traded at 20 389 per greenback, reflecting cumulative losses of 70% since the year began, making it one of the world’s worst-performing currencies.
Read more »
Ree Drummond's net worth: From cooking passion to million-dollar businessRee Drummond is an American TV personality, blogger, and author best known for documenting her life on the Pioneer Woman blog. What is Ree Drummond's net worth?
Read more »
South African rand weakens as dollar rallies on risk sentiment - SABC News - Breaking news, special reports,Rand weakened in early trade on Friday, in line with other emerging market currencies…
Read more »
Chinese stocks drop, dollar bounce drags down Asia: Markets wrapSpot gold fell 0.4% to $2 173.16 an ounce.
Read more »