Meanwhile, it is widely expected to cut European Central Bank Prices Interest A quarter of a percentage point later today, and is expected Investors Hints about how close another rate cut is.
The dollar rose against yen Following a volatile session yesterday that saw the US currency fall by about 1.24 percent to its lowest level this year before recovering all its losses following the release of consumer price data.
Early Wednesday, Junko Nakagawa, a board member, confirmed that Bank of JapanThe bank’s bias toward tightening monetary policy, saying low real interest rates leave room for further hikes.
Fellow Fed member Naoki Tamura said on Thursday that the pace of monetary policy tightening expected by the market may be too slow, comments that helped mitigate the yen’s losses.
And rose Dollar The yen was up 0.31 percent at 142.805 yen by 0505 GMT, after earlier rising as much as 0.41 percent. It fell to 140.71 yen for the first time since Dec. 28 in the previous session, following Nakagawa’s comments, according to Reuters.
And rose Consumer Price Index In the United States, the index rose 0.2 percent last month, matching the advance it made in July. But excluding the volatile food and energy components, the index rose 0.3 percent, after a 0.2 percent increase in the previous month.
As a result, traders have essentially ruled out the possibility of a price cut. Interest By 50 basis points on September 18, bringing the probability to 15 percent versus 85 percent for a 25 basis point cut.
As for the European Central Bank, markets are 100 percent expecting a quarter-point rate cut today, with a group of policymakers backing another cut after a quarter-point rate cut in June.
The euro was steady at $1.10165, remaining close to Wednesday’s low of $1.1002, its weakest since Aug. 16.
As settled Pound Sterling At $1.3050, after falling to $1.30025 in the previous session for the first time since August 20.
And it decreased Swiss Franc The dollar rose 0.11 percent to 0.8531 francs, after touching its highest level since Aug. 21 at 0.8544 francs on Wednesday.
The risk-sensitive Australian and New Zealand dollars rose as Asian stocks tracked Wall Street gains.
The Australian dollar rose 0.22 percent to $0.6690, while its New Zealand counterpart rose 0.23 percent to $0.6152.
