USD/JPY

Dollar Eyes Second Week of Gains; Yen Underperforms

The dollar gauge heads into a second week of gains as traders are pricing in a slower pace of interest-rate cuts by the Federal Reserve. On the day, the yen was the worst performer followed by the Canadian dollar. 

Bloomberg Dollar Spot Index was trading 0.1% lower, following a flat reading of prices paid to US producers. Two-week gain for the index was about 2%.

Investors are waiting for China's weekend fiscal briefing to get details on further stimulus measures.

China may deploy as much as 2 trillion yuan ($283 billion) in fresh fiscal stimulus, according to a Bloomberg survey.

USD/JPY climbs 0.4% to 149.12.

EUR/USD unchanged at 1.0939.

France's new deficit target appears "too optimistic" and may lead to rating risks, though that seems to already be in bond prices, according to Citigroup.

GBP/USD rose 0.1% to 1.3072; data showed the UK economy returned to growth in August.

AUD/USD advanced 0.3% to 0.6757, on track for a weekly drop of 0.6%.

Source : Bloomberg

 

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