NEW YORK – The dollar surged to a fresh high against the yen on Friday, bolstered in part by US inflation data that showed no signs of easing, coming in line with forecasts and affirming expectations that the Federal Reserve will likely delay cutting interest rates to later this year.
The personal consumption expenditures price index rose 0.3 per cent in March, compared to a forecast of a 0.3pc increase, data showed. In the 12 months through March, PCE inflation advanced 2.7pc against expectations of 2.6pc. Porter added that the monthly rise of 0.32pc prompted a small market sigh of relief, but noted that the figure would have matched the fastest monthly rise in the decade prior to the pandemic.Post-inflation data, US rate futures have priced in a 58pc chance of a Fed cut at the September meeting, down from 68pc a week ago, according to the CME's FedWatch tool. A Fed easing is priced more than 80pc in December.The euro fell 0.2pc to $1.069. On the week, it was up 0.
BOJ Governor Kazuo Ueda told a press conference after the rate decision that monetary policy did not directly target currency rates, but exchange-rate volatility could have a significant impact on the economy and prices.
US Dollar US Inflation US Interest Rates Interest Rates Inflation Federal Reserve Bank Of Japan Personal Consumption Expenditures PCE PCE Price Index
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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