USD/JPY

Dollar consolidates after Fed comments; yen slips

The U.S. dollar traded in a narrow range on Thursday and held just below a 12-week high reached earlier in the week, as traders digested comments from policymakers in the previous session.

On Wednesday, several Fed speakers gave a range of reasons for feeling little urgency to start easing policy in the United States soon or to move quickly once they do.

The dollar index was last up 0.1% at 104.14, hovering below Monday's 104.60, the highest level since November 14, having been propelled higher after Friday's blowout jobs report.

Higher U.S. Treasury yields have boosted the dollar, particularly against lower-yielding currencies, such as the yen.

The yen was last down almost 0.5% versus the greenback to 148.84, just shy of its weakest level since November 14.

Bank of Japan Deputy Governor Shinichi Uchida said the central bank is unlikely to raise interest rates aggressively, even after exiting negative interest rates.

The euro was little changed at $1.0768, holding above its lowest level since Nov. 14 at $1.0722 hit on Tuesday.

Sterling was also broadly unchanged at $1.2619.

Source: Reuters

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