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The dollar rose to an eight-week high above 159 yen on Friday as the Fed's patient rate-cut stance contrasted with more dovish global positions.
The dollar rose as Fed Governor Adriana Kugler sees policy as "sufficiently restrictive" to control inflation without major job market harm.
The dollar rose on weak retail sales data, hinting at Fed rate cuts; sterling climbed as UK inflation hit 2% for the first time in nearly 3 years.
The dollar rose Tuesday as Philadelphia Fed President Harker predicted one rate cut this year but may adjust based on future data.
The dollar stayed firm Monday as investors awaited US economic signals. The euro hovered near a one-month low amid Europe's political turmoil.
The yen hit a 1-month low Friday as the BOJ held rates and announced future bond buying cuts, contrary to market expectations for this month.
Major currencies held gains as a weaker dollar followed softer-than-expected US inflation. Markets still expect two 25 bps cuts this year.
The dollar steadied on Wednesday after a four-week high. Markets see a 56% chance of a September rate cut, per the CME FedWatch tool.
The dollar surged on Tuesday, hitting a one-month high against the euro and a one-week peak versus the yen, buoyed by strong job data from last week.
The dollar hovered near an 8-week low Friday, awaiting a key US jobs report for Fed policy clues. Markets expect a 50 bps cut by year-end.
On Thursday, the dollar weakened as markets bet on a Fed easing cycle this year. Nearly 50 bps rate cuts are anticipated, starting in September.
The dollar strengthened before central bank meetings, according to economic data. Safe havens weakened as investors chased higher yields.
The dollar hit a low against the euro and sterling on Tuesday as softening US economy signals raised chances of earlier Fed rate cuts.
The dollar is steady as traders bet on stable US inflation for a potential Fed rate cut; the Aussie trims gains from Asian factory growth.
