TOKYO : The U.S. dollar held gains on Thursday after strong U.S. banking results firmed up expectations that the Federal Reserve will keep monetary policy tight for a while longer, and New Zealand's dollar slumped after cooler than expected inflation data.The dollar index, which tracks the currency agains
TOKYO : The U.S. dollar held gains on Thursday after strong U.S. banking results firmed up expectations that the Federal Reserve will keep monetary policy tight for a while longer, and New Zealand's dollar slumped after cooler than expected inflation data.
The Japanese yen weakened a second day, losing 0.1 per cent to at 134.85, after yesterday trading above 135 for the first time in a month. "The banking results continue to show that the U.S. bank funding situation is stabilizing," said Bank of Singapore currency strategist Sim Moh Siong."So that's helping the dollar, plus the fact that we have slightly hawkish Fed speak, the market is starting price out the extent of a Fed cut for this year."
The U.S. central bank will deliver a final 25-basis-point interest rate increase in May and then hold rates steady for the rest of 2023, according to economists in a Reuters poll.
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