U.S. Dollar Falls As Asian Shares Traded Higher
04 Marzo 2024 - 3:03AM
RTTF2
The U.S. dollar weakened against other major currencies in the
Asian session on Monday, as investor sentiment edged higher
following the broadly positive cues from global markets on Friday,
amid bets the U.S. Fed will likely cut interest rate in June after
data showed a slowdown in manufacturing activity and a drop in
consumer sentiment in the U.S.
Traders also react to a slew of economic data from the
region.
This week's trading is likely to be driven by a testimony by Fed
Chair Jerome Powell and reaction to the release of the U.S.
services PMI figures and the monthly jobs report.
Powell testifies Tuesday and Wednesday before House and Senate
committees, a semi-annual exercise.
In the Asian trading now, the U.S. dollar fell to 4-day lows of
1.0848 against the euro and 1.2667 against the pound, from last
week's closing quotes of 1.0837 and 1.2650, respectively. If the
greenback extends its downtrend, it is likely to find support
around 1.09 against the euro and 1.27 against the pound.
Against the Swiss franc and the yen, the greenback dropped to
4-day lows of 0.8824 and 149.84 from Friday's closing quotes of
0.8833 and 150.11, respectively. The greenback may test support
near 0.86 against the franc and 147.00 against the yen.
Looking ahead, the Federal Statistical Office releases Swiss
inflation data for February at 2:00 am ET in the pre-European
session.
At 4:30 am ET, the behavioral research Sentix is scheduled to
issue euro area investor confidence survey results for March.
At 11:00 am ET, Federal Reserve Bank of Philadelphia President
Patrick Harker is scheduled to speak on the "Economic Impact of
Higher Education" before the 2024 American Council on Education
Presidents and Chancellors Summit, Washington D.C., U.S.
Grafico Cross US Dollar vs Yen (FX:USDJPY)
Da Mar 2024 a Apr 2024
Grafico Cross US Dollar vs Yen (FX:USDJPY)
Da Apr 2023 a Apr 2024