Posted 1/8/2024, 3:03:00 AM
Dollar Holds Steady Ahead of US Inflation Data; Yen Struggles as Yields Climb
- Dollar steady ahead of key US inflation data that will give clarity on Fed's policy outlook
- Yen struggled near 145 per dollar level due to broad rebound in dollar
- Trading thin in Asia with Japan market closed for holiday
- Dollar's rally underpinned by rebound in Treasury yields as traders temper expectations for pace and scale of Fed rate cuts
- Upcoming inflation reports in US and Australia later this week could shift rate cut expectations again