SINGAPORE : The dollar was firm on Monday as economic resilience in the United States raised market expectations for further rate hikes by the Federal Reserve, while news that a debt ceiling deal had been finalised sparked some risk-on sentiment.The greenback notched a fresh six-month high of 140.91 yen i
SINGAPORE : The dollar was firm on Monday as economic resilience in the United States raised market expectations for further rate hikes by the Federal Reserve, while news that a debt ceiling deal had been finalised sparked some risk-on sentiment.
The yen's renewed decline has come on the back of rising U.S. Treasury yields, as bets grow that interest rates in the United States would stay higher for longer. Yields on U.S. Treasuries jumped on the back of the data, with the two-year yield, which typically reflects near-term interest rate expectations, rising more than 10 basis points to an over two-month high of 4.639 per cent on Friday.
"Whether the dollar sustains the rally that we're seeing, I think it'll depend on particularly the wages data, or average earnings within Friday's payrolls report, and obviously we've got CPI before the Fed as well," said Ray Attrill, head of FX strategy at National Australia Bank .
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