<\/p>\n\n\n\n
The U.S. dollar remained close to a two-week high against the Japanese yen on Friday, following its most significant one-day gain against major currencies in four weeks. The rally was driven by robust U.S. economic data, which largely dispelled recession fears.<\/p>\n\n\n\n
The greenback also received a boost from a surge in Treasury yields on Thursday, as traders scaled back expectations that the Federal Reserve would need to implement aggressive rate cuts next month. Risk-sensitive currencies, including the British pound, maintained their strength as the improved economic outlook fueled a rally in equities.<\/p>\n\n\n\n
The dollar index, which tracks the greenback’s performance against six major peers\u2014including the yen, sterling, and euro\u2014dipped by 0.12% to 102.92 as of 0513 GMT. This followed a 0.41% increase overnight, marking the most substantial gain since July 18.<\/p>\n\n\n\n
The dollar edged down by 0.24% to 148.935 yen, slightly retreating from Thursday’s high of 149.40, a level last seen on August 2. Meanwhile, the 10-year Treasury yield slipped by a little over 2 basis points to 3.9035% during Asian trading hours.<\/p>\n\n\n\n
On Thursday, the U.S. Commerce Department reported that retail sales rose by 1.0% in the previous month, surpassing expectations of a 0.3% gain. Additionally, data showed that 227,000 Americans filed for unemployment benefits last week, fewer than the anticipated 235,000.<\/p>\n\n\n\n
Despite these developments, traders are still anticipating that the Fed will cut interest rates on September 18. However, the likelihood of a larger 50 basis-point reduction has decreased to 25%, down from 36% a day earlier, according to the CME Group’s FedWatch Tool.<\/p>\n","protected":false},"excerpt":{"rendered":"
The U.S. dollar remained close to a two-week high against the Japanese yen on Friday, following its most significant one-day gain against major currencies in four weeks. The rally was driven by robust U.S. economic data, which largely dispelled recession fears. The greenback also received a boost from a surge in Treasury yields on Thursday, …<\/p>\n","protected":false},"author":9,"featured_media":104686,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7987,7604,6987],"class_list":["post-104777","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-cpi-data","tag-dollar-index","tag-inflation"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=104777"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104777\/revisions"}],"predecessor-version":[{"id":104778,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104777\/revisions\/104778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/104686"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=104777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=104777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=104777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}