The dollar rose to a one-month high versus the yen on Thursday as robustness in the U.S. jobs market backed the idea that the Federal Reserve does not need...
TOKYO - The dollar rose to a one-month high versus the yen on Thursday as robustness in the U.S. jobs market backed the idea that the Federal Reserve does not need to rush to cut interest rates.
The safe-haven U.S. currency saw some additional demand on Wednesday after Iran launched a salvo of some 180 ballistic missiles into Israel, spurring a vow of retaliation and stoking worries of all-out war. Currently, traders lay 34.6% odds of another 50 basis-point U.S. rate cut on Nov. 7, after the Fed kicked off its easing cycle with a super-sized reduction last month. That's down from 36.8% odds a day earlier, and 57.4% odds a week ago, according to the CME Group's FedWatch Tool, but still seems too high, according to Ray Attrill, head of FX strategy at National Australia Bank.
Dovish Bank of Japan policy maker Asahi Noguchi, who dissented against the rate hike in July, will give a speech later in the day. A new filing presents the clearest view yet of how prosecutors would present their case against the former president at trial.Russia's economy faces 'near stagnation' with sanctions whittling down annual GDP growth, European economist says
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