- January 16, 2023
- Posted by: Stratford Team
- Category: Economy
SINGAPORE, Jan 16 (Reuters) – The dollar fell to a seven-month low against major peers on Monday while the yen spiked to an over seven-month peak as traders ramped up bets that the Bank of Japan may make further tweaks to its yield control policy at its meeting this week.
The Aussie breached the key $0.7000 level for the first time since August, and last rose 0.54% to $0.7013, after rising as high as $0.7019 earlier in the session.
Similarly, the euro hit a fresh nine-month top of $1.08725, and was last 0.3% higher at $1.0867.
Against a basket of currencies, the U.S. dollar index slumped 0.46% to a seven-month trough at 101.79, as the greenback extended its selloff from last week after data showed that U.S consumer prices fell for the first time in more than 2-1/2 years in December.
With decades-high inflation in the world’s largest economy showing signs of cooling, investors are now betting that the Fed may be nearing the end of its rate-hike cycle, and…
