Sharjah24 – Reuters: The yen hit a one-month high and the dollar was held below recent peaks on Tuesday as traders awaited inflation figures due in the U.S. and China to guide the interest rate outlook, while momentum carried bitcoin to a fresh record high.
The data due on Wednesday is expected to show U.S. consumer prices galloped and Chinese factory gate prices soared in October. But it also comes as commodity prices have eased from peaks and central bankers have dampened speculation that they will raise interest rates imminently.
The firmer yen, which rose about 0.4% to 112.80 per dollar, and the fall in 20-year and 30-year U.S. Treasury yields to seven-week lows suggested investors are pricing in a pretty modest hiking cycle and slower economic growth in the longer term.
The euro, which had dropped to a 15-month trough of $1.15135 last week, firmed 0.2% to $1.1606.
The U.S. dollar index slipped 0.2% to 93.878, about the middle of the range it kept through October.
Fed funds futures have pushed back the likely date for rates lift-off from around July next year to September or October.
For an optimal experience, please
