PT Solid Gold Berjangka | Dollar Edges Lower as Traders Await Policy Reviews

08:22 18 September in Commodity, SOLID GOLD BERJANGKA | SOLID GROUP

A gauge of the dollar edged lower after capping its first weekly loss since July as traders took to the sidelines ahead of a slew of policy rate decisions due this week.

The Federal Reserve is set to announce its rate decision on Wednesday, followed by central banks in the UK and Japan on Thursday and Friday, respectively. Most Group-of-10 currencies registered subdued moves with Japan’s markets shut for a holiday.

Small leveraged funds liquidated early purchases of the Australian dollar when China’s CSI 300 Index opened at a 2023 low, but reloaded their positions when the gauge rebounded, a trader said.

The Bloomberg Dollar Spot of Index was little changed. There was no cash trading in Treasuries due to Japan’s holiday.

USD/JPY slipped 0.1% to 147.70. EUR/USD rose 0.1% to 1.0668, helped in part by ECB Governing Council member Martins Kazaks who warned on pricing in rate cuts in 1H24.

Source : Bloomberg


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