USMC - Forex Becalmed With The Greenback Mostly Firmer In Narrow Ranges
2024-03-05 07:50:00 ET
Summary
- Outside of the Australian and New Zealand dollars, which are off by 0.20-0.25%, the other G10 currencies are little changed and mostly softer in narrow ranges.
- Tokyo's CPI jumped back in February after both the headline and core slipped below 2% in January to 1.8%.
- The dollar traded firmly against the yen on Monday, assisted by the firmer US rates. However, the greenback held below the JPY150.70-JPY150.85 cap seen last week.
Overview
Outside of the Australian and New Zealand dollars, which are off by 0.20-0.25%, the other G10 currencies are little changed and mostly softer in narrow ranges. A firm Tokyo CPI, mostly on base effects and softer rates, helped keep the US dollar below the recent highs against the Japanese yen. Most emerging market currencies are lower, led by the Malaysian ringgit. Meanwhile, the Hungarian forint is stabilizing after extending losses to new record levels against the euro. The new news among US data today is the ISM services. It is expected to have softened, but disappointment could weigh on US rates....
Forex Becalmed With The Greenback Mostly Firmer In Narrow Ranges