Dollar Mostly Steady
2024-08-04
2165
(fxcue news) - The U.S. dollar climbed up on Wednesday as bond yields rose, and the yen weakened after the Deputy Governor of Bank of Japan won't hike interest rates when financial markets are volatile.
The greenback found support as fears of a U.S. recession faded after comments from a few Fed officials earlier this week.
The dollar index climbed to 103.37 in the Asian session, and despite paring some gains as the day progressed, stayed well above the flat line. The index was last seen at 103.20, up 0.23% from the previous close.
Against the Euro, the dollar firmed to 1.0923, gaining marginally. The dollar cut early losses and strengthened to 1.2688 a unit of Pound Sterling. Against the Japanese currency, the dollar strengthened to 146.81 yen, rising from Tuesday's close of 144.33 yen.
The dollar was down slightly against the Aussie at 0.6520. Against Swiss franc, the dollar rose sharply to fetch CHF 0.8617 a unit, from CHF 0.8515. The dollar was weak against the Loonie at 1.3760.
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