The U.S. dollar is trading near a 7-1/2-month high against the Japanese yen following remarks made by central bank leaders at a European Central Bank conference. Federal Reserve Chair Jerome Powell stated that two rate rises are likely this year, with the possibility of a hike in July. In contrast, Bank of Japan Governor Kazuo Ueda noted that achieving 2 percent inflation and sufficient wage growth is still a challenge. The dollar’s recent surge against the yen has drawn criticism from Japanese government officials. The U.S. currency has eased slightly in Asian morning trading on Thursday.
Meanwhile, the U.S. dollar index, which measures the currency against six major peers, remains relatively unchanged following a climb of 0.46 percent overnight. The euro and the sterling also experienced minimal movement. The Australian dollar, on the other hand, has rebounded slightly after a sharp decline and traders are closely watching the Reserve Bank of Australia’s upcoming policy decision. Additionally, China’s yuan is close to a 7-1/2-month low in offshore trading as investors await the central bank’s next move.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
