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US dollar holds ground as US inflation data looms

From xm.com

The dollar was steady on Monday ahead of a key U.S. inflation report later in the week for further clarity on the Federal Reserve's monetary policy outlook, after markets got off to a hesitant start to the year as rate cut bets were pared. The yen struggled near the 145 per dollar level pressured by a broad bounce in the dollar, while the Australian and New Zealand dollars were nursing losses having fallen sharply last week amid cautious risk sentiment. Trading was thinned in Asia with Japan out on a holiday. Against the yen, the dollar JPY=EBS rose 0.05% to 144.67, extending its gain from last week when it jumped ... (full story)

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  • Category: Fundamental Analysis