SINGAPORE : The dollar was on the back foot on Monday after a miss in U.S. jobs data scaled back market expectations on how much further the Federal Reserve would need to raise rates, while focus in the Asia day was on China's inflation data release.The U.S. economy added 209,000 jobs last month, data on
SINGAPORE : The dollar was on the back foot on Monday after a miss in U.S. jobs data scaled back market expectations on how much further the Federal Reserve would need to raise rates, while focus in the Asia day was on China's inflation data release.
The Japanese yen last bought 142.30 per dollar in early Asia trade on Monday, having jumped 1.4 per cent on Friday in the wake of the greenback's decline and a slump in U.S. Treasury yields. "We've also seen large inflows back into the yen as well, we've seen some people looking to cover some of those yen shorts."
"I certainly don't trust that U.S. dollar move...whether it's sustained," said Weston."But it sort of screams out that the market obviously sees the Fed in the later stage of the cycle."
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