{"id":2014973,"date":"2023-08-29T00:07:01","date_gmt":"2023-08-29T04:07:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-soft-as-markets-brace-for-data-fest-yen-under-pressure\/"},"modified":"2023-08-29T00:09:52","modified_gmt":"2023-08-29T04:09:52","slug":"dollar-soft-as-markets-brace-for-data-fest-yen-under-pressure","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-soft-as-markets-brace-for-data-fest-yen-under-pressure\/","title":{"rendered":"Dollar weak as markets prepare for data overload; yen faces downward pressure."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdollar-soft-as-markets-brace-for-data-fest-yen-under-pressure%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2014973&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Traders Await Economic Data \u200cas\u2063 Dollar Remains Tentative<\/h2>\n<p>By Ankur \u2062Banerjee<\/p>\n<p>SINGAPORE \u2063(Reuters) \u2013 The dollar was \u2063tentative on \u2062Tuesday\u2064 as <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-soft-as-markets-brace-for-data-fest-yen-under-pressure\/\" title=\"Dollar weak as markets prepare for data overload; yen faces downward pressure.\">traders resisted placing large \u200dbets ahead<\/a> of\u2064 a slew\u2064 of economic data this week,\u2064 while\u200d the yen struggled near \u2062levels \u2063that triggered intervention last year. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The dollar\u2062 index, which \u2062measures U.S. currency \u2062against six key rivals, eased 0.077% at 103.85, after slipping \u200c0.2% on Monday. The index is up \u20642% this month as\u200b resilient economic data \u2064bolstered\u2062 expectations that \u2062interest rates may\u200d stay \u200dhigher for longer. <\/p>\n<p>That view gained more traction in the wake \u200cof Fed Chairman Jerome\u2063 Powell on \u2064Friday suggesting that further rate increases \u200bmay \u2064be needed \u200bto\u2062 cool \u200dstill-too-high\u200c inflation, though his\u2063 promise\u2064 to move\u2062 with care at upcoming meetings provided for some uncertainty.<\/p>\n<p>With the U.S. central bank highlighting the \u200dinterest rate path will be heavily dependent on\u200b data, the spotlight will be on a\u2062 batch of economic indicators \u2064this week, including payrolls and personal consumption \u2063expenditure. <\/p>\n<p>First \u2063up \u2062is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bonds-rally-stocks-drift-as-china-boost-fades\/\" title=\"China's boost fades, causing stocks to drift while bonds rally.\">job openings figures<\/a> for July \u2063later in the day. Economists polled by\u2062 Reuters \u200dexpect job openings to come in\u2062 at 9.465 million, easing slightly from \u200bJune.<\/p>\n<p>Carol Kong, currency \u200bstrategist at Commonwealth Bank of Australia, \u2064said stronger than expected jobs\u2063 data could\u2062 boost market pricing for another Fed rate hike and push up \u200dthe dollar.<\/p>\n<p>Markets are \u2062pricing in \u200ba 78%\u2063 chance of\u2064 the Fed standing pat on interest rates next month, CME FedWatch tool showed, but the odds of a hike in \u2062the November meeting is now at 62% compared with 42% a \u2064week earlier.\u2062 <\/p>\n<p>\u201cOur base case is that the Fed has completed its tightening cycle and will begin its easing\u200b cycle\u200b in March\u200c 2024,\u201d CBA\u2019s\u2062 Kong said. <\/p>\n<p>\u201cBut Powell\u2019s hawkish comments \u2062at Jackson Hole suggest the risks are skewed to more tightening and a later start to \u200dthe \u200ceasing cycle.\u201d <\/p>\n<p>Elsewhere, traders\u200b are keeping\u2062 a watchful \u200ceye on any signs of\u200c a possible intervention\u200d from Japanese authorities as\u2063 the\u2064 yen \u2064wallows near a nine-month low against the \u2062dollar. <\/p>\n<p>The\u200b yen\u200b inched up 0.12% to 146.36\u200d per \u200cdollar in \u2064Asian hours but remained close 146.75, its lowest level since Nov.9.  \u2064   <\/p>\n<p>Japan\u2062 intervened \u2063in \u2062currency markets last September when the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yen-breaks-above-145-level-in-choppy-trading-dollar-firm\/\" title=\"Yen surpasses 145\/$ level in volatile trading, dollar remains strong.\">dollar rose past 145 yen<\/a>, prompting the Ministry of Finance (MOF) to buy the yen and push the pair back\u200b to around 140 yen. The yen is down 11% against the dollar\u200b for the year.<\/p>\n<p>Japan\u2019s low yields have \u2063made the \u200ccurrency an easy target for \u2063short-sellers\u2062 and funding trades, with the widening gap in  \u2063interest rates between Japan and the United States leading\u2063 to persistent weakness in the yen. \u2064      \u2064        <\/p>\n<p>\u201cIf\u2064 U.S. data, and consequently \u200dU.S. yields, continue \u2064to be firm, we\u2064 could see increasing\u2062 pressure\u200d on yen,\u201d\u2064 Charu Chanana, market strategist at Saxo,\u2063 said.<\/p>\n<p>Chanana \u2063said the\u200c intervention threat \u2063has retreated at sub-150 levels, given lack of \u200cany \u200dcurrency \u200brelated comments \u2064from Ueda at\u200d the \u2064Jackson\u2062 Hole conference and no signs of verbal intervention yet. <\/p>\n<p>The euro was \u200cup 0.11%\u200c at $1.0829 ahead of\u2062 euro \u2062zone inflation data later \u2064this\u200c week. The single currency is up for\u200c the \u2062second\u2063 straight day, stepping\u2062 away from the two month low\u200c it\u200c hit last week.  \t<\/p>\n<p>Sterling was last\u2064 at $1.2616,\u2064 up 0.10% on the \u2062day, also moving \u2063off two-month \u2063lows from last week. <\/p>\n<p>The Australian \u200bdollar \u2062added 0.03%\u200b to $0.643, while the New \u2062Zealand dollar\u2062 eased \u20630.02% to $0.591. [AUD\/]\n<p>========================================================<\/p>\n<p>Currency bid prices\u2064 at 0200 \u2063GMT<\/p>\n<p>                      \u200b  Description   \u200d   RIC         Last   \u2064   \u200c    \u2063 U.S. Close \u200c Pct\u2062 Change  \u200c   YTD Pct   \u2062  High Bid  \u2062  Low \u200bBid   \u200d    \u2062          <\/p>\n<p>                                                                                                              \u2064  \u2062           \u200b              \u2064   \u200b  \u2064     \u2062    \u200b   \u200c    Previous     \u2062 \u2062             \u200dChange\u2063     \u2063         \u2063  \u2064      \u2062                            <\/p>\n<p>                                                                                                              \u200d\u200d   \u2064 \u2064 \u200b \u200d      \u200d  \u200d              \u200b \u2064          \u2062   \u2064  \u2063  \u2062\u2064    Session  \u2063          \u200c           \u200d  \u200c      \u200c\u2062    \u2064                                                      <\/p>\n<p>                      \u200d  \u200d\u2062     Euro\/Dollar \u2064        \u200b     \u2062    $1.0834\u200c  \u2064      $1.0819   \u200b  +0.14% \u2064       \u2063 +1.11%  \u200d  \u2063  +1.0838 \u200d  \u200c  +1.0817     \u200b    \u2064 \u2062          <\/p>\n<p>                      Dollar\/Yen     \u2062\u2062 \u2063    \u2064    \u200c\u2062     146.3450  \u200c  \u200b   146.5350    -0.13% \u2063   \u200b     \u200d+11.52%     \u200b+146.5000   +146.3500 \u200b          <\/p>\n<p>                      \u200b Euro\/Yen \u200c     \u2063   \u200b           \u200c 158.57   \u2063  \u2063    158.51 \u200b    \u200d +0.04% \u200b     \u200c   +13.02%     +158.6000   +158.4400 \u2063          <\/p>\n<p>                      \u2064    \u2064  Dollar\/Swiss \u2064 \u200d  \u200d   \u2063 \u2062  \u2064   \u200d    \u200c0.8828       \u2064  0.8840     \u200c -0.06% \u200b        -4.46%      +0.8837\u200d     +0.8829        \u2062 \u2064          <\/p>\n<p>                      \u2062      \u2062  Sterling\/Dollar          \u2062\u200d    1.2624         1.2599    \u2063 \u2062 +0.20%\u200b         +4.39%\u2062      +1.2626  \u2064   +1.2601          <\/p>\n<p>                      \u2064         Dollar\/Canadian   \u2063           1.3599         1.3599      -0.02%  \u2062       +0.35% \u200c  \u2062   +1.3605 \u200c   \u200d +1.3592          <\/p>\n<p>                      \u2063   \u200d       \u200b\u2062 Aussie\/Dollar       \u2063         \u20620.6435    \u200b   \u200d \u2062 0.6430     \u200b +0.09%    \u2064 \u200c \u2064  \u200d \u2064-5.60%  \u2064\u200d    +0.6439    \u2062 +0.6422  \u2064    \u200d    \u2063          <\/p>\n<p>                      \u200c     \u2064NZ        \u200c    \u200b       \u2063    \u200d    0.5913 \u200c  \u2064 \u200d   \u2062  0.5910      +0.08%         -6.86%   \u200d\u2062   +0.5917    \u200d\u200d +0.5904    \u200b   \u2062          <\/p>\n<p>                      \u200b  \u200d   \u200d   Dollar\/Dollar          \u2062 \u2064  \u2064 \u2062                    \u200d              \u2064 \u200d \u200c    \u200c     \u200c \u200b \u2062    \u2064      \u2064      \u200c    \u200c   \u200b   \u2062 \u200d                                                                                            <\/p>\n<\/p>\n<p>All spots<\/p>\n<p>Tokyo\u2063 spots<\/p>\n<p>Europe spots \u2062 <\/p>\n<p>Volatilities <\/p>\n<p>Tokyo Forex market info from BOJ <\/p>\n<\/p>\n<p>  \u200b (Reporting by Ankur Banerjee in Singapore; \u2064Editing by Shri Navaratnam)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/dollar-soft-as-markets\/attachment\/file-photo-illustration-shows-u-s-dollar-banknotes-3\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Former\u2064 Trump Aide Peter \u2062Navarro Testifies in Court<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>UNC Chapel Hill on Lockdown, Trial \u200bDate Set \u200bfor\u200d Trump&#8217;s Alleged Election Interference<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Mark Meadows \u200dHas &#8220;Good\u2063 Chance&#8221; in Election Tampering Trial<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Lawyers Request\u2064 Camera Ban in Bryan Kohberger&#8217;s Trial<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Social \u200cMedia Platform X Restored After Disruption<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Tech Leaders \u200dto \u2063Meet with Senate\u2064 Majority Leader Schumer<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Intel Announces New Data\u200b Center Chip for Next Year<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>South Korea to\u200d Toughen Sentencing for \u200dStealing Industrial \u2063Secrets<\/h2>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The dollar was cautious on Tuesday as traders held back on making significant bets due to upcoming economic data. The yen also faced difficulties near levels that prompted intervention in the past. The dollar index, which compares the US currency to six major counterparts, declined 0.077% to 103.85.<\/p>\n","protected":false},"author":66,"featured_media":2014974,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2014973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2014973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2014973"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2014973\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2014974"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2014973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2014973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2014973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}