Dollar index slips 0.28% as yen hits 161.97, its weakest level since 1986
AI Market Summary
The Fed''s more hawkish June stance under Chair Kevin Warsh has pushed markets to price a 64% chance of a September hike, keeping the dollar near a 13-month high. Wider U.S.-Japan rate differentials are pressuring JPY to a 1986 low, concentrating volatility in USD/JPY ahead of the U.S. June jobs report. Supreme Court limits on political interference at the Fed add institutional focus to policy expectations.
Impact level
● High
Affected assets
NCFXUSD2JPY/USDT+0.45%
AI Insight · NCFXUSD2JPY/USDTAI Insight
▼ Bearish
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The dollar index edged down 0.28% to 101.08 on Monday but stayed near a 13-month high, and it is up 2.17% for the month. The yen weakened to 161.97 per dollar, its lowest level since 1986. Markets have leaned more hawkish since the Fed’s June meeting under new Chair Kevin Warsh, with fed funds futures pricing a 64% chance of a rate hike by September. Attention this week is on Thursday’s June jobs report, expected to show 110,000 jobs added and the unemployment rate steady at 4.3%.
