Dollar holds firm, yen slides as US rate-cut bets recede

Singapore, Apr. 15 (BNA):The dollar steadied on Monday, holding its biggest weekly gain since 2022.


The dollar went up 1.6% against a basket of six major currencies last week after a small but unnerving upside surprise in U.S. inflation cast doubt over bets on U.S. rate cuts, while European policymakers signalled a cut within a few months, Reuters reported. 


It made a five-month top on the euro on Friday and traded near those levels early in the Asia day, buying a euro for $1.0655.


The yen was the main loser on Monday, marking a 34-year low at 153.85 to the dollar.


The yen’s slide against the dollar has revived anticipation of currency intervention. 





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