The dollar touched a six-month high against the yen on Tuesday amid the continuing debt ceiling crisis in the United States and growing expectations that interest rates there will remain higher for a longer period.<\/p>\n\n\n\n
The dollar rose to a six-month high of 138.80 against the yen in early Asian trade, reflecting the stark contrast between the Federal Reserve’s continued tightening approach and the Bank of Japan’s ultra-loose policies.<\/p>\n\n\n\n
“Markets expect the Federal Reserve to keep interest rates higher for a longer period \u2026 Inflation in the United States is still well above target,” said Tina Teng, market analyst at CMC Markets.<\/p>\n\n\n\n
“I don’t think the Federal Reserve will start cutting interest rates anytime soon,” she added.<\/p>\n\n\n\n
The euro fell 0.05 percent to $1.0808, down about two percent since the beginning of the month until now, after two consecutive months of gains.<\/p>\n\n\n\n
As for the pound sterling, it increased 0.02 percent to 1.2440 dollars.<\/p>\n\n\n\n
Investor sentiment is affected by concerns related to the approaching deadline for the debt ceiling in the United States, which undermined risk appetite and supported the dollar as a safe haven.<\/p>\n","protected":false},"excerpt":{"rendered":"
The dollar touched a six-month high against the yen on Tuesday amid the continuing debt ceiling crisis in the United States and growing expectations that interest rates there will remain higher for a longer period. The dollar rose to a six-month high of 138.80 against the yen in early Asian trade, reflecting the stark contrast …<\/p>\n","protected":false},"author":9,"featured_media":62119,"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":[8242,6885,6987,6984,8367],"class_list":["post-84361","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-economic-optimism-index","tag-fed","tag-inflation","tag-treasury-yields","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/84361","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=84361"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/84361\/revisions"}],"predecessor-version":[{"id":84362,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/84361\/revisions\/84362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/62119"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=84361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=84361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=84361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}