The U.S. dollar was perched near a three-month peak on Tuesday, buoyed by elevated Treasury yields, on growing expectations that the Federal Reserve is unlikely to cut interest rates aggressively this year.
The U.S. dollar was perched near a three-month peak on Tuesday, buoyed by elevated Treasury yields, on growing expectations that the Federal Reserve is unlikely to cut interest rates aggressively this year.
The string of robust U.S. economic data has quashed any lingering hopes of early and steep interest rate cuts by the Fed, with Fed Chair Jerome Powell and other policymakers also pushing back against the notion.
Figures showed that the unemployment rate was likely much lower late last year than previously thought, which could push out rate cuts there, too.
The Japanese yen strengthened 0.07% to 148.56 per dollar, hovering around a two-month low of 148.90 it touched on Monday.
Persons:
Jerome Powell, Christopher Wong, Michele Bullock, Kristina Clifton
Organizations:
U.S, Federal, Investor, Reserve Bank of Australia, Investors, Reuters, Commonwealth Bank of Australia
Locations:
Singapore, Asia