The dollar softened on Friday, with the euro and the yen on the rise as investors remained on tenterhooks ahead of next week's central bank bonanza where the...
SINGAPORE - The dollar softened on Friday, with the euro and the yen on the rise as investors remained on tenterhooks ahead of next week 's central bank bonanza where the focus is on the Federal Reserve and the size of its expected interest rate cut.
Higher U.S. jobless claims data released on Thursday and the Wall Street Journal article on the Fed's rate cut dilemma revived bets on a jumbo cut at the September meeting, according to Christopher Wong, currency strategist at OCBC. A slew of mixed U.S. economic reports this week have muddled rate expectations, with a report on Thursday suggesting that layoffs remained low even as the labour market was slowing, while other data showed producer prices rising slightly more than expected in August amid a rebound in the cost of services.
BOJ board member Naoki Tamura said on Thursday the central bank must raise rates to at least 1% as soon as the second half of the next fiscal year but added that it would likely raise rates slowly and in several stages. Donald Trump will not take part in another debate against Vice President Kamala Harris, the Republican candidate announced on his Truth Social platform on Thursday. “When a prizefighter loses a fight, the first words out of his mouth are, ‘I WANT A REMATCH,’” Trump wrote. “Polls clearly show that I won the Debate against Comrade Kamala Harris, the Democrats’ Radical Left Candidate, on Tuesday night, and she immediately called for a Second Debate.”Here we go again.
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