© Reuters. US dollar banknotes in an illustration from Reuters archives.
TOKYO (Reuters) – The dollar traded within a narrow range on Thursday as traders assessed less dovish comments from Federal Reserve policymakers overnight and looked forward to new economic data from the United States.
The focus was also on inflation data issued in China, the second largest economy in the world.
During the past hours, many US Central Bank officials reviewed a group of reasons why policymakers do not feel an urgent need to start monetary easing in the United States soon or move quickly if they decide to move in this direction.
“For now, policy remains in a good position, and we are carefully evaluating the data and expectations,” Boston Fed President Susan Collins said, adding that she believed it would be “appropriate to begin easing policy restrictions later this year.”
The dollar fell overnight after rising on Monday and Tuesday for the first time since late November above its 100-day moving average, driven by a rise in US jobs data on Friday.
The measure, which measures the US currency against six major currencies in the recent period, hovers around 104.00.
It rose 0.06 percent to 1.0777 per dollar, holding above its lowest level since November 14 at $1.0722 recorded on Tuesday.
The pound saw little change at $1.26305.
The yen also stabilized against the dollar at 148.18.
Outside, it remained stuck near 7.206 to the dollar.
Regarding cryptocurrencies, it rose 0.94 percent to $44,602.23.
(Prepared by Marwa Gharib for the Arabic Bulletin)
2024-02-08 03:42:00
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