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Monday's steady dollar faces uncertain easing timing due to persistent inflation. Traders eye June for the first rate cut, per CME FedWatch.
The Japanese yen has had a rough start to the year, falling about 5%. Inflation in Japan has cooled, and the U.S. economic outlook is optimistic.
USD pressured by falling US Treasury yields, deepening market concerns. CAD rebounds, and the central bank seeks more time to address inflation. Oil rises, US crude inventories grow less than expected, and production records are tough to break.
USD steadies near a 3-month high; the Fed is unlikely to cut rates in March. AUD rises on RBA, hinting at further tightening possibilities.
The dollar surged to an 8-week high as traders reduced bets on aggressive Fed rate cuts. Simultaneously, the Canadian dollar hit a one-week low.
Friday's tech earnings on Wall Street lifted risk appetite, causing the dollar's broad decline and marking its first weekly loss this year.
Thursday saw the dollar near a seven-week high against the euro after Fed Chair Jerome Powell resisted March interest rate cuts.
The dollar sees its biggest monthly gain since September; the yen faces its sharpest drop in a year. The Fed and BOJ may delay expected rate changes.
The dollar was range-bound on Tuesday, as traders awaited the Fed's monetary policy decision this week for clues on possible rate cuts.
The dollar edged up on Monday as investors assessed US economic data before the Fed meeting. A 48% probability is assigned for a March rate cut.
On Friday, the euro weakened as the ECB maintained its expected stance at the policy meeting. Investors increasingly anticipate a rate cut in April.
China announced a cut in bank reserve interest rates, releasing 1 trillion yuan in liquidity and boosting the sluggish stock market.
Thursday: Dollar near 6-week high lacks direction as investors await more data. Q4 US GDP growth expected at 2% - Reuters poll.
Wednesday's robust dollar is due to stronger-than-expected jobs and inflation reports, causing investors to lower bets on Fed interest rate cuts in Q1.
