Dollar Rally Eases as Currency's Gain Against Yen Cools
Dow Jones
19 hours ago
1512 ET - The dollar loses some steam, particularly against the Japanese yen, as markets price in central bank decisions with an uncertain outlook. The Fed is perceived as more hawkish than the Bank of Japan after both central banks raised rates this week. According to LSEG, the BoJ has a 70% probability of holding in October, compared to 55% odds of a Fed hike. Investors recalibrate the rates outlook, with an impact on currency levels. The dollar strengthens 0.5% against the yen, slowing from nearly 1% earlier. The greenback weakens 0.3% against the Swiss franc and is flat versus the euro. The WSJ Dollar Index rises slightly.
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