US Dollar Slides Closer to 1990 Lows as Inflation Data Looms

Key Takeaways:

  • 💵 Dollar slid ahead of U.S. inflation data
  • 📉 Yen dipped to near 34-year lows
  • 📊 Dollar index down, U.S. Treasury yields up
  • 💴 Japanese real wages fell for 23rd consecutive month
  • 🗣️ Japanese authorities prepared to intervene to support yen
  • 📉 Market expectations reduced for Fed rate cuts
  • 🇪🇺 Eurozone focus on ECB policy meeting
  • 📈 Bitcoin price up 6.3%
  • 💰 US dollar slid ahead of inflation data, while yen remained near 1990 lows
  • 📈 Japan real wages fell, leading to softer yen
  • 🎯 Focus on U.S. inflation data, with expectations of only two rate cuts this year
  • 🏦 ECB policy meeting in spotlight this week
  • 📈 Bitcoin hits three-week high
  • 🚪 Expectations are high for U.S. inflation data with March CPI forecasted to rise 0.3%
  • 📉 U.S. rate futures predict only two rate cuts this year
  • 🪙 Bitcoin reached a three-week high at $72,732.59
  • 💹 Dollar firmed against yen, nearing 34-year peak
  • 🗣 Japanese officials expected to engage in more jawboning
  • 💪 U.S. economy remains strong, uncertainty on how long monetary policy can remain restrictive
  • 💶 Euro up, ECB policy meeting on Thursday to be watched
  • 💸 Dollar slid as investors focused on US inflation data
  • 💰 Japanese workers’ real wages fell in February for 23rd consecutive month
  • 📊 Dollar index down 0.2%, U.S. Treasury yields pushed higher

Dollar Slides Before U.S. Inflation Data, Yen at Near 34-Year Lows

The dollar saw a decline as investors awaited U.S. inflation data. Meanwhile, the yen was close to its lowest point in 34 years, indicating market uncertainties and potential interventions.

Focus on U.S. and Japan Real Wages, ECB Policy Meeting

Real wages in Japan fell for the 23rd consecutive month, impacting the yen’s value. In the U.S., focus remains on inflation data with expectations for only two rate cuts this year. The upcoming ECB policy meeting in the Eurozone is also in the spotlight, leading to varied market expectations.

Bitcoin Price Soars, U.S. Rate Futures Adjust Predictions

Bitcoin experienced a significant increase, reaching a three-week high amid market fluctuations. U.S. rate futures adjusted predictions, reducing odds of a June rate cut to 49%, reflecting uncertainty in the economy.

Euro Up, Japanese Authorities Prepared for Intervention

The euro strengthened amidst market movements, while Japanese authorities stood ready to intervene and support the yen. The market is closely watching for any action or announcements from policymakers.

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