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US dollar steady as traders await clues on US rate path

From channelnewsasia.com

The dollar was broadly steady on Monday as investors awaited further clues to help chart the U.S. interest rate path in the wake of cautious comments from Federal Reserve officials, even as inflation shows signs of cooling. The Japanese yen started the week on the back foot, weakening a bit to 155.80 per dollar as traders remain on tenterhooks for signs of government intervention. The currency has moved in tight ranges in the past couple of trading days. Data last week showed U.S. consumer prices for April eased, leading to markets pricing in 50 basis points (bps), or at least two rate cuts this year, but various Fed ... (full story)

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  • Category: Fundamental Analysis