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☆ Japan's central bank starts its monetary policy meeting today. Here's what's in focus
▼ + stars: | 2024-07-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Javier Ghersi | Moment | Getty ImagesJapan's central bank kicks off its July monetary policy meeting on Tuesday, with traders focused on its decision on interest rate and government bond purchases. Economists polled by Reuters expect the BOJ to increase its benchmark interest rate to 0.1% from the current range of 0% to 0.1%. BOJ Governor Kazuo Ueda said in June that the central bank could raise rates "depending on economic, price and financial data and information available at the time," Reuters reported. "Our decision on bond-buying taper and interest rate hikes are two different things," Ueda told the country's parliament. The headline inflation rate has been above the BOJ's 2% target for more than two years.

Persons: Javier Ghersi, Kazuo Ueda, Ueda, Bond Organizations: Bank of, Reuters, ING, Bank of America, realty, Bank of Japan, Japanese Trade Union Confederation Locations: Japan, Bank of Japan

☆ Asia-Pacific markets rebound as Wall Street rallies overnight; Australia holds rates
▼ + stars: | 2024-06-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A pedestrian and jogger pass the Reserve Bank of Australia (RBA) building, during a partial lockdown imposed due to the coronavirus, in Sydney, Australia, on Monday, May 18, 2020. David Gray | Bloomberg | Getty ImagesAsia-Pacific markets rebounded on Tuesday as Wall Street rallied overnight, with investors assessing the Reserve Bank of Australia's interest rate decision. The RBA held its benchmark interest rate at 4.35% for its fifth straight meeting, saying that inflation "remains above target and is proving persistent." The RBA also noted that the economic outlook remained "uncertain," with recent data signaling that achieving the inflation target was unlikely to be smooth. Automaker Hyundai also hit a fresh record, gaining about 1.62% on news that it plans to list its India unit in Mumbai.

Persons: David Gray, Kazuo Ueda, Akio Toyoda, Kospi Organizations: Reserve Bank of Australia, Bloomberg, Getty, Wall Street, Bank, Japan's Nikkei, Reuters, Bank of Japan, Toyota, Samsung Electronics, SK Hynix, Hyundai, CSI Locations: Sydney, Australia, Asia, Pacific, Mumbai, Hong

☆ Dollar firm as euro wallows; yuan brushes aside China data
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: +4 min

The dollar was firm on Monday as the euro hovered near a more than one-month low amid continued concerns about the political outlook in Europe. The yuan held close to a multi-month low after China released a slew of economic data that pointed to an uneven recovery in the world's second-largest economy. A Reuters poll published last week showed 63 of 65 economists thought a first cut would not come until Aug. 1. Elsewhere, the yuan was mostly flat at 7.2550 per dollar after domestic data showed a mixed economic picture in China. China's central bank left a key policy rate unchanged as expected on Monday as the weak yuan continued to hamper policy easing.

Persons: Emmanuel Macron's, Matt Simpson, Neel Kashkari, Index's Simpson, Sterling, Kazuo Ueda, bitcoin Organizations: U.S, Gazprom, European Central Bank, Reuters, Index, . Minneapolis Federal, Bank of England, Bank of Japan Locations: Poland, Bulgaria, Europe, China, U.S

☆ Dollar ebbs as markets await key global inflation reports
▼ + stars: | 2024-05-28 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, a person is seen holding 100, 50, and 5 U.S. dollar bills in his hand. The dollar waned on Tuesday following a slight pick up in risk appetite, but it held tight ranges against its peers ahead of key inflation data from major economies this week that markets are looking to for guidance on the global interest rate outlook. The euro was a touch firmer at $1.0860 despite some dovish comments from European Central Bank policymakers on Monday and data showing German business morale stagnated in May. Down Under, the Aussie edged 0.03% higher to $0.6657, with the country's monthly consumer price index data also due on Wednesday. BOJ Governor Kazuo Ueda said on Monday the central bank will proceed cautiously with inflation-targeting frameworks, noting that some challenges are "uniquely difficult" for Japan after years of ultra-easy monetary policy.

Persons: Rodrigo Catril, Sterling, NAB's, Kazuo Ueda, bitcoin Organizations: U.S, European Central Bank, ECB, National Australia Bank, New Zealand, Down, Bank of Japan Locations: Asia, Britain, United States, U.S, Tokyo, Japan

The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. Analysts have said that any intervention from Tokyo would only serve as a temporary respite for the yen, given stark interest rate differentials between the U.S. and Japan remain. Analysts expect the central bank to leave the door open to lower interest rates as early as June. The Australian dollar fell 0.2% to $0.6585, pressured in part by a less hawkish outlook from the Reserve Bank of Australia than anticipated after it held interest rates steady on Tuesday.

Persons: Kazuo Ueda, Shunichi Suzuki, they'll, Carol Kong, Neel Kashkari, Kashkari, Rodrigo Catril Organizations: Federal, U.S, Bank of Japan, country's Finance, Commonwealth Bank of Australia, New Zealand, greenback, Minneapolis, Minneapolis Fed, National Australia Bank, Bank of, Reserve Bank of Australia Locations: Tokyo, Beijing, Japan, Bank, U.S, Minneapolis

☆ Japan's yen had a rollercoaster week amid suspected intervention. Here's what you need to know
▼ + stars: | 2024-05-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

An undated photographic illustration of Japanese yen and the U.S. dollar bank notes. The yen touched 160.03 against the greenback on Monday, for the first time since 1990, but strengthened to 156 levels later that day amid speculation about an intervention by Japanese authorities. Japanese authorities are yet to issue an official statement confirming their role in propping up the currency. In the last few decades, while other global central banks have tightened their policies, Japan had maintained its ultra-loose policy, leading to concentrated carry trades in the Japanese yen. Market participants believe Japanese authorities will intervene further to prop up the currency.

Persons: Glowimages, they've, Nicholas Smith, Kazuo Ueda, Edward Yardeni Organizations: U.S, Glowimages, CNBC, Bank of America Global Research, Bank of Japan, Bank of, Federal Reserve, Yardeni Research Locations: propping, Japan, U.S, Bank of Japan

In this article JPY= Follow your favorite stocks CREATE FREE ACCOUNTThe Japanese yen has weakened significantly against the dollar in 2022. Stanislav Kogiku | SOPA Images | LightRocket | Getty ImagesThe Japanese yen weakened to 160 against the U.S. dollar in Monday morning trading in Asia. The yen briefly touched 160.03 against the dollar, the weakest level since April 1990 when it touched 160.15, according to FactSet data. The yen has traded around 150 or weaker against the dollar since the Bank of Japan ended its negative interest rate regime in March. Japanese authorities have repeatedly warned against "excessive" moves in the yen, but have made no official announcements about bolstering the currency.

Persons: Stanislav Kogiku, Kazuo Ueda, Ueda, Vincent Chung, Rowe Price's, Chung Organizations: U.S, greenback, Bank of Japan Locations: Asia

☆ Markets wary of intervention as yen struggles at 155 level
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: +3 min

Having traded in a tight range over the past few days, a buoyant dollar finally broke above the 155 yen level for the first time since 1990 in the previous session, and was last steady at 155.34 yen in early Asia trade. The breach of the 155 yen level comes as the BOJ meets to discuss monetary policy, though expectations are for the central bank to keep its short-term interest rate target unchanged following last month's landmark exit from negative rates. "We expect the BOJ meeting to deliver a marginally hawkish hold outcome," said Carl Ang, fixed income research analyst at MFS Investment Management. Continued expectations of gradual policy tightening and a low terminal policy rate make it difficult for the yen to appreciate significantly, even if at historically depressed levels." The dollar steadied at 105.79 against a basket of currencies, pulling away from a nearly two-week low hit in the previous session.

Persons: Carl Ang, Kazuo Ueda, Justin Smirk Organizations: Bank of Japan, MFS Investment Management, Reserve Bank of Australia, Westpac, New Zealand Locations: Tokyo, Asia, Australia

☆ Currencies calm but cautious after a weary week
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: +3 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Eyes are on the yen this week, with the Bank of Japan's, or BOJ, Friday policy review the notable item on the economic calendar. The yen has been one of the biggest losers against the dollar this year, with losses mounting to 9%. The ECB's Robert Holzmann, however, said the ECB probably will not cut rates this year as much as planned if the Fed does not move. BoE Governor Andrew Bailey and Deputy Governor Dave Ramsden alluded last week to Britain's inflation slowing as expected.

Persons: Chris Weston, Weston, Kazuo Ueda, BoE, ECB policymaker Madis Muller, Christine Lagarde, Robert Holzmann, BoE Governor Andrew Bailey, Dave Ramsden, Sterling, Bitcoin Organizations: U.S ., Bank of Japan's, Federal Reserve, Monetary Fund, Bank, Washington , Bank of Japan, European Central Bank, Bank of England, ECB policymaker, ECB, Treasury Locations: Buenos Aires, Argentina, East, Tehran, Iran, Washington, United States, Japan, South Korea, Washington ,, U.S

☆ Aussie, New Zealand dollars tumble on risk-off moves; yen rises
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: +4 min

The risk-sensitive Australian dollar tumbled 0.8% to $0.6370, and the New Zealand dollar fell 0.63% to $0.5864. ABC News reported late on Thursday that Israeli missiles have hit a site in Iran, citing a U.S. official. The shift in rate expectations has come on the back of a slew of resilient U.S. economic data that has repeatedly surpassed expectations, alongside still-sticky inflationary pressures. "Although policy easing may arrive a bit later than previously expected, we still believe the FOMC will start cutting rates before the year is out," said economists at Wells Fargo. Against a basket of currencies, the greenback rose 0.1% to 106.28, hovering near a more than five-month high of 106.51.

Persons: Carol Kong, I'm, Kazuo Ueda, it'll, CBA's, Jerome Powell Organizations: New, Hamas, U.S ., U.S, New Zealand, ABC News, Commonwealth Bank of Australia, Bank of Japan, European Central Bank, ECB Locations: New Zealand, Iran, United States, Japan, South Korea, U.S, CBA's Kong, Wells Fargo

☆ Dollar firms, yen skids as Fed cut wagers crumble
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: +4 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Japan intervened in the currency market three times in 2022 as the yen slid toward what was then a 32-year low of 152 to the dollar. The Japanese central bank last month ended eight years of negative interest rates but yen has remained rooted near 151 per dollar levels since then. The euro was last at $1.0744, having dropped 1% on Wednesday ahead of the European Central Bank, or ECB, meeting later in the day. The Australian dollar was little changed at $0.651, while the New Zealand dollar eased 0.17% to $0.598.

Persons: Masato Kanda, Kyle Rodda, Rodda, Kazuo Ueda, Kevin Cummins, Sterling Organizations: Fed, Reuters, Bank of, Bank of Japan, Federal Reserve, U.S, NatWest, Treasury, European Central Bank, ECB, New Zealand Locations: Buenos Aires, Argentina, Tokyo, Japan, Bank of Japan, U.S

☆ Dollar firm, yen under watch ahead of key US CPI release
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The inflation data follows a strong jobs report last Friday that blew past forecasts, raising questions on how soon and how much the central bank will cut rates this year. On the yen, Wednesday's CPI data will be "a big test for Japanese authorities," Kong added. The U.S. dollar index , which measures the greenback against six rivals, held firm at 104.12. The kiwi climbed as high as $0.6077 versus the U.S. dollar, its strongest since March 21, before flattening at $0.60595.

Persons: Carol Kong, Kong, Kazuo Ueda, Sterling, bitcoin Organizations: U.S, Reserve Bank of New, Commonwealth Bank of Australia, Bank of Japan, Reserve Bank of New Zealand, U.S ., Treasury, Traders, European Central Bank, ECB Locations: Yichang, Hubei province, Reserve Bank of New Zealand, U.S, China

☆ Dollar steady ahead of jobs data; yen hits two-week high
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: +3 min

The yen, while still close to the 152 range, hit a two-week high against the greenback as safe-haven bids and fresh warnings from Japanese authorities buoyed the currency. The dollar has had a turbulent week, falling from a five-month high to a two-week low after an unexpected slowdown in U.S. services growth supported expectations of bringing interest rates down. The dollar index , which measures the greenback against a basket of major currencies, was last largely unchanged at 104.18. Japanese Finance Minister Shunichi Suzuki on Friday reiterated the government's resolve to take appropriate action against sharp yen falls. The yen strengthened 0.29% versus the greenback to a two-week high of 150.92.

Persons: payrolls, Neel Kashkari, Jerome Powell, Charu Chanana, Joe Biden, Matt Simpson, Shunichi Suzuki, Kazuo Ueda, bitcoin Organizations: U.S, The U.S, greenback, Minneapolis Federal, Saxo, Biden, Finance, Bank of Japan, Asahi Locations: The, Minneapolis, Gaza, Iran

☆ 'Mr Yen' says Japan could intervene if yen falls to 155
▼ + stars: | 2024-03-20 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: 1 min

Japanese authorities may intervene if the yen sinks to 155 to 160 against the dollar, according to a former top foreign exchange official Eisuke Sakakibara. The Bank of Japan's decision on Tuesday to exit the world's last remaining negative rates regime sparked a sell-off in the Japanese currency as Governor Kazuo Ueda reiterated monetary conditions will stay loose for the time being — given the fragile recovery in the Japanese economy. He also didn't commit to a terminal rate level. On Wednesday, ahead of the U.S. Federal Reserve's interest rate decision later in the day, the yen touched its weakest in four months against the dollar, falling to around 151 and tumbling against the euro to its lowest since 2008.

Persons: Kazuo Ueda Organizations: U.S Locations: U.S . Federal

The BOJ will now look to utilize its short-term interest rate as its primary policy tool. It will employ an interest rate of 0.1% to current account balances held by financial institutions at the central bank from March 21, while encouraging the uncollateralized overnight call rate (another interest rate used as a policy lever by the bank) to remain at around 0 to 0.1% — effectively raising interest rates from -0.1% previously. It would resort to "nimble responses" in the form of increased Japan government bond purchases and fixed-rate purchases of JGBs, among other things, if there is a rapid rise in long-term interest rates. Japanese investors have looked elsewhere for better returns given years of artificially depressed interest rates in their home market. The Fed is due to announce its own interest rate decision on Wednesday.

Persons: Japan Alexander Spatari, Kazuo Ueda, Rob Carnell, BOJ, Ueda, Michael Brown, —, JGBs, Vishnu Varathan, Hayden Briscoe, Briscoe Organizations: Japan's, Japan Inc, Asia, ING, CNBC, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Bank of America, Barclays, U.S . Federal, UBS Asset Management Locations: Dotonbori, Japan, Japan's, U.S, Mizuho's, Asia

TOKYO (AP) — Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The negative interest rate policy, combined with other measures to inject money into the economy and keep borrowing costs low, “have fulfilled their roles,” Bank of Japan Gov. But it had remained cautious about “normalizing” monetary policy, or ending negative borrowing rates, even after data showed inflation at about that rate in recent months. Ueda said there was “a positive cycle” of a gradual rise of wages and prices, while stressing that monetary policy will remain easy for some time. The Japanese central bank's policy is quite different from those of the U.S. Federal Reserve and the European Central Bank.

Persons: “, Kazuo Ueda, Ueda, Harumi Taguchi, Haruhiko Kuroda, ___ Yuri Kageyama Organizations: TOKYO, ” Bank of Japan Gov, Bank of, Analysts, P Global Market Intelligence, U.S . Federal Reserve, European Central Bank, Bank of Japan Locations: Japan, Bank of Japan, U.S, China

☆ Asia markets poised to fall ahead of central bank decisions from Japan and Australia
▼ + stars: | 2024-03-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Kazuo Ueda, governor of the Bank of Japan (BOJ). Asia-Pacific markets were set to fall ahead of central bank monetary policy decisions from the Bank of Japan and the Reserve Bank of Australia. All eyes will be on the BOJ amid expectations that the central bank could end its negative interest rate policy after 17 years. Economists polled by Reuters expect the central bank to raise its rates to 0% from the current -0.1%. Separately, the RBA is forecast to hold its benchmark interest rate at 4.35% for its third meeting in a row.

Persons: Kazuo Ueda Organizations: Bank of Japan, Reserve Bank of Australia, Reuters Locations: Asia, Pacific

☆ Japan's central bank could end negative interest rate policy after 17 years
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan's central bank could end negative interest rate policy after 17 yearsWill the Bank of Japan end negative interest rate policy and tweak rates higher at its March meeting? CNBC's Kaori Enjoji talks about the two conditions that BOJ Governor Kazuo Ueda said must be met before a rate hike — a rise in prices and wages.

Persons: CNBC's Kaori Enjoji, Kazuo Ueda Organizations: Bank of Japan

☆ Japan's central bank just raised interest rates for the first time in 17 years
▼ + stars: | 2024-03-19 | by ( Yuri Kageyama | Associated Press | ) www.businessinsider.com time to read: +4 min

Read previewTOKYO (AP) — Japan's central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The short-term rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy meeting that confirmed expectations of a shift away from ultra-lax monetary policy. The negative interest rate policy, combined with other measures to inject money into the economy and keep borrowing costs low, "have fulfilled their roles," the bank said in a statement. The Japanese central bank's policy is quite different from those of the US Federal Reserve and the European Central Bank. Analysts expect the Bank of Japan to continue to move slowly on further raising interest rates.

Persons: —, Kazuo Ueda, Haruhiko Kuroda Organizations: Service, Business, Bank of, Bank of Japan, US Federal Reserve, European Central Bank Locations: Japan, Bank of Japan, U.S, China

☆ Bank of Japan hikes rates for the first time in 17 years in a historic shift, abolishes yield curve control
▼ + stars: | 2024-03-19 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Japan's central bank raised interest rates on Tuesday for the first time since 2007, ending the world's last negative rates regime on early signs of robust wage gains this year. The BOJ raised its short-term interest rates to around 0% to 0.1% from -0.1%, according to its statement at the end of its two-day March policy meeting. Japan's negative rates regime had been in place since 2016. The BOJ also announced the abolition of its radical yield curve control policy for 10-year Japanese government bonds, which the central bank has employed to target longer-term interest rates by buying and selling bonds as necessary. The Bank of Japan expects higher salaries to lead to a virtuous spiral with domestic demand fueling inflation.

Persons: BOJ, Kazuo Ueda Organizations: Japan Inc, Bank of Japan Locations: Japan, Japan's

☆ Goldman Sachs now expects the Bank of Japan to hike rates Tuesday
▼ + stars: | 2024-03-18 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Goldman Sachs now expects the Bank of Japan to raise interest rates for the first time in 17 years at its March meeting this week, bringing forward its previous forecast for an April decision. Ota said he expects the BOJ to abolish its yield curve control policy, which the central bank employs to target longer-term interest rates, by buying and selling bonds as necessary. Still, he expects the central bank will "not explicitly commit" to the size of its Japanese government bond purchases or the cessation of its ETF purchases. While the central bank has effectively loosened its yield curve control policy over longer term interest rates over the past 16 months, it has kept interest rates at -0.1% and still maintains an upper limit for 10-year Japanese government bond yield at 1% as a reference. While BOJ Governor Kazuo Ueda meets with his other eight board members eight times a year, the central bank updates its economic outlook only four times: in January, April, July and October.

Persons: Goldman Sachs, Tomohiro Ota, Ota, Kazuo Ueda Organizations: Bank of Japan Locations: Ueno Park, Tokyo, Japan

☆ Dollar steady, yen soft as BOJ policy shift beckons
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, a person is seen holding 100, 50, and 5 U.S. dollar bills in his hand. Tom Kenny, senior international economist at ANZ, said an end to negative interest rate policy is likely to reflect a 10-basis-point hike taking the current policy rate from -0.1% to 0.0%. "We expect this to be a dovish hike with the BOJ unlikely to signal its intention to hike again soon." The focus has shifted to whether the policymakers will make any changes to their projections of rate cuts, or dot plots for this year. The Fed in December projected 75 basis points, or three rate cuts, of easing in 2024.

Persons: Kazuo Ueda, Tom Kenny, Powell, bitcoin Organizations: U.S, Bank of Japan, Federal Reserve, ANZ, Beyond, Reuters, New Zealand, Bank of England, Fed, NatWest Locations: Japan, United States, England, Australia, Norway, Switzerland, Mexico, Brazil, Indonesia, Asia, Beyond Japan, Australia's, U.S, cryptocurrencies

(Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)At Japan's highly anticipated "shunto" spring wage negotiations this year, the world's largest automaker Toyota agreed to the biggest annual pay increase for workers in 25 years. Market speculation reached fever pitch this week as various corporate giants announced robust negotiated salary increments that in some instances exceeded what unions petitioned for. Bank of Japan Governor Kazuo Ueda has repeatedly said the outcome of this year's wage negotiations will influence the central bank's decision on when to exit the world's last negative interest rate policy. Japan's largest trade union grouping, known as Rengo, will announce the first collation of ongoing wage negotiations on Friday. Here's what you need to know about this year's spring wage talks, which takes place annually in March.

Persons: Kazuhiro NOGI, KAZUHIRO NOGI, Kazuo Ueda Organizations: Bank of Japan, The Bank of Japan, Getty, Toyota Locations: Tokyo, AFP

☆ Bank of Japan may exit its negative rate policy next week. Here's what you need to know
▼ + stars: | 2024-03-13 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +3 min

Speculation is swirling that the Bank of Japan may move to exit the world's last negative rate policy as early as next week, when policymakers gather for their March meeting. "We continue to expect that the BOJ will terminate NIRP in April," Goldman Sachs economists led by Tomohiro Ota wrote in a Tuesday note, referring to the negative interest rate policy. "While a March rate hike cannot be ruled out, we believe that the BOJ's communications at this juncture are not clear enough to justify assuming the March hike as the base case scenario." "The Bank of Japan has no right to keep monetary policy where [they are now]. The economy is not in any shape or form to have that ultra-loose monetary policy and quantitative easing, which we have been calling a major policy error," Amir Anvarzadeh, a market strategist at Asymmetric Advisors, told CNBC Tuesday.

Persons: Goldman Sachs, Tomohiro Ota, Kazuo Ueda, Amir Anvarzadeh Organizations: Bank of Japan, Asymmetric Advisors, CNBC Locations: NIRP, Japan

☆ Dollar steadies as traders weigh hotter-than-expected inflation
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve's June meeting. The U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve's June meeting. The U.S. consumer price index, or CPI, increased solidly in February, beating forecasts and suggesting some stickiness in inflation. That has left analysts wondering whether the Fed will have sufficient data to justify more than a couple of rate cuts all year. The dollar index , which measures the greenback against a basket of peer currencies, was little changed at 102.91.

Persons: Powell, Matt Simpson, Kazuo Ueda's, bitcoin Organizations: U.S, Federal, Fund, U.S ., CPI, Bank of Japan, Traders, European Central Bank Locations: U.S

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