The US dollar strengthened against major currencies as a Federal Reserve official hinted at no rush to cut rates amidst persistent inflation concerns.
Japan's yen maintained its position against the dollar, nearing the 152 mark, following suggestions of potential intervention by Japanese monetary authorities.
Federal Reserve Governor Christopher Waller's remarks during late Wednesday trading emphasized a cautious approach to rate cuts, supporting the dollar index, which remained largely unchanged at 104.41.
Traders await Friday's US core inflation figures after Tuesday's positive durable goods orders report boosted the dollar against the yen.
The yen experienced a slight recovery after Japanese officials discussed potential measures to address its weakness, putting markets on alert for intervention signs.
Japan's currency intervention history in 2022, particularly in September and October, influences current market sentiments.
The Japanese yen was last seen at 151.37 against the dollar. Bank of Japan's March meeting revealed policy divisions regarding the country's readiness to exit ultra-easy monetary policy.
In other currencies, the euro declined by 0.11% to $1.0814, while sterling fell by 0.17% to $1.2616. Bitcoin saw a 1.14% increase to $69,648.86 in the cryptocurrency market.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.