Dollar hits one-month peak to yen as Fed seen taking time with rate cuts
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The dollar rose to a one-month high of 146.575 yen on October 3, 2024, supported by strong U.S. job market data; private payrolls increased by 143,000 jobs in September, raising expectations for upcoming non-farm payrolls; Japan's new prime minister indicated no readiness for additional rate hikes, leading to yen selling pressure; the dollar index reached 101.70, a three-week high; traders estimate 34.6% odds of a 50 basis-point rate cut on November 7, down from 57.4% a week prior; geopolitical tensions arose after Iran launched 180 ballistic missiles into Israel, affecting market sentiment.

#Dollar #Yen #FederalReserve #InterestRates #Geopolitics #Payrolls #Japan #Economy #MarketTrends #Currency

https://www.nst.com.my/business/economy/2024/10/1114207/dollar-hits-one-month-peak-yen-fed-seen-taking-time-rate-cuts