Dollar slips against yen, muted elsewhere
The dollar fell lower against the safe-haven yen on Mon as investors weighed rising politics tensions in Asia and therefore the prospect of a rate hike from the Federal Reserve System later this month.
USD/JPY was down zero.38% at 113.61 at 08.31 GMT, off Friday’s high of 114.73.
Demand for the yen was boosted once D.P.R.K. conducted missile tests early Mon, moistening risk appetence.
The dollar people from five-week highs against a currency basket on Friday as investors took profits once Fed Chair Janet Yellen aforementioned a rate hike “would doubtless be appropriate” this month if the economy remains on target.
The remarks cemented the read that the Fed can raise interest rates at its next meeting on March 14-15, following a series of hawkish comments by Fed policymakers earlier within the week.
Futures traders ar rating in around AN eighty two likelihood of a hike at the Fed’s March meeting, in line with finance.com’s Fed Rate Monitor Tool.
The U.S. dollar index, that measures the greenback’s strength against a trade-weighted basket of six major currencies, was very little modified at one hundred and one.32.
Political developments within the U.S. continuing to dampen demand for the dollar once U.S. President Donald Trump on Sat defendant Barack Obama of wiretapping him throughout the 2016 election campaign.
Investors feared that the contention would cut down attention from policy problems.
EUR/USD was at one.0626, holding below AN long high of one.0640 as investors continuing to watch developments within the French presidential election campaign.
Sterling was lower, with GBP/USD down zero.29% at 1.2267.