Dollar Steady as Inflation Data Boosts June Rate Cut Bets

Singapore, The dollar was broadly steady on Monday as data showing easing US prices bolstered bets that the Federal Reserve could cut interest rates in June, while the yen loitered near 152 per dollar keeping traders on edge on the threat of intervention.

The dollar index, which measures the US currency against six rivals, was 0.057% higher at 104.54.

The euro was 0.03% lower at $1.0787. Sterling was last at $1.2637, up 0.12% on the day.

The yen touched a 34-year low against the dollar of 151.975 on Wednesday and was last at 151.395 per dollar on Monday.

In the spot market, the yuan opened at 7.2227 per dollar and was last changing hands at 7.2292. The offshore yuan was trading at 7.2508 per dollar.

In other currencies, the Australian dollar was 0.08% higher at $0.6521, while the New Zealand dollar was little changed at $0.59805.

Source: Qatar News Agency

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