© Reuters.

By Gina Lee

Investing.com – The dollar was up on Friday morning in Asia but remained near its weakest level in a month. A stronger euro, as investors bet on earlier European interest rate hikes, capped gains for U.S. currency.

The that tracks the greenback against a basket of other currencies inched up 0.07% to 93.388 by 12:16 AM ET (4:16 AM GMT).

The pair inched up 0.07% to 113.64. Japanese data released earlier in the day showed that the grew 0.1% year-on-year, while the contracted 0.2% month-on-month, in October. contracted 5.4% month-on-month, the was at 1.16 and the at 2.8% in September.

The pair edged up 0.11% to 0.7552. Australian grew a better-than-expected 1.3% month-on-month, while grew 0.6% month-on-month, in September. The producer price index grew 1.1% and 2.9% in the third quarter of 2021.

The pair edged down 0.15% to 0.7188. The pair inched down 0.01% to 6.3910 while the pair inched up 0.07% to 1.3798.

The euro was largely flat at $1.16855 after climbing as high as $1.1692 for the first time since Sep. 28 during the previous session. The handed down its policy decision on Thursday, with comments by President Christine Lagarde interpreted by some as not going far enough in affirming the central bank’s dovish stance.

Lagarde’s “pushback was not forceful enough,” opening the way for the euro to test $1.1680 in the near term, TD Securities strategists said in a note. However, “extrapolating euro strength beyond that seems like a big ask a week ahead of the U.S. Federal Reserve’s meeting where assert tapering will be announced,” the note added.

Foreign exchange markets saw big moves as central banks, including the and the , handed down policy decisions earlier on the week. Meanwhile, the Reserve Bank of Australia on Thursday declined to buy a government bond at the heart of its stimulus program and continued the stance on Friday.

The and the will hand down their policy decisions in the following week. While the Fed is expected to begin asset tapering from November onwards, BOE is expected to announce an interest rate hike.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link