Dollar subdued as growth concerns mount, yen retreats

SINGAPORE, Jan 20 ― The US dollar struggled for direction today as fears of an economic slowdown dented risk sentiment, while the yen slipped as speculation continue to swirl that the Bank of Japan will eventually move away from its ultra-easy policy.

“We now expect the BoJ to exit from yield curve control and negative interest rate policy by the end of June, conditional on a solid pick-up in Japan's wage growth,” said Carol Kong, currency strategist at Commonwealth Bank of Australia. A flurry of US data yesterday indicated the world's biggest economy was slowing down after multiple hefty interest rate hikes from the Federal Reserve as traders hope for a pause in tightening this year.

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