{"id":46621,"date":"2023-08-10T02:58:12","date_gmt":"2023-08-10T06:58:12","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/dollar-hits-one-month-high-vs-yen-before-cpi-pboc-supports-yuan\/"},"modified":"2023-08-10T02:58:13","modified_gmt":"2023-08-10T06:58:13","slug":"dollar-hits-one-month-high-vs-yen-before-cpi-pboc-supports-yuan","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46621","title":{"rendered":"Dollar hits one-month high vs yen before CPI; PBOC supports yuan"},"content":{"rendered":"<div>\n<p>By Kevin Buckland and Brigid Riley<\/p>\n<p>TOKYO (Reuters) &#8211; The dollar rose to a one-month high above 144 yen on Thursday as monetary policy divergence was front of investors&#8217; minds ahead of crucial U.S. inflation data later in the day that should guide the path for interest rates.<\/p>\n<p>Meanwhile, the  edged further from a one-month trough after the People&#8217;s Bank of China again set a stronger-than-expected mid-point guidance rate in a sign of displeasure at recent weakness. That helped lift the Australian and New Zealand dollars from near two-month lows.<\/p>\n<p>The dollar rose as high as 144.08 yen for the first time since July 7 as markets took the view that the Bank of Japan will be slow to exit stimulus, even with traders mostly betting the Fed is done with rate hikes.<\/p>\n<p>A rise in  to the highest since January also weighed on Japan&#8217;s currency, because the resource-poor nation is a major oil importer.<\/p>\n<p>&#8220;The fact that energy prices have risen for almost seven weeks, that&#8217;s certainly weighed on the yen,&#8221; said Tony Sycamore, a market analyst at IG.<\/p>\n<p>A break above 145 would open the way potentially to 148 &#8220;if we get the U.S. dollar flexing again after the CPI,&#8221; he said.<\/p>\n<p>Despite the BOJ&#8217;s decision to relax its control of long-term yields at the end of last month, policymakers have stressed the change was a technical tweak aimed at extending the shelf life of stimulus, chiefly defined by the negative short-term interest rate.<\/p>\n<p>&#8220;Weak Japanese labour cash earnings data earlier this week has increased our conviction that the BOJ will leave interest rates unchanged at \u20110.1% over the rest of the year,&#8221; Commonwealth Bank of Australia strategist Kristina Clifton wrote in a note.<\/p>\n<p>&#8220;The relative monetary policy outlooks between the U.S. and Japan suggests  is likely to stay supported.&#8221;<\/p>\n<p>Against other rivals, dollar moves were muted ahead of the CPI data, with the  &#8211; which measures the currency against the yen and five other currencies, including the  and  &#8211; was basically flat at 102.50 in the Asian afternoon, near the centre of its roughly 101.98 to 102.80 trading range this week.<\/p>\n<p>Compared to last Friday though, the index has appreciated 0.5%, setting it up for a fourth straight weekly gain.<\/p>\n<p>The dollar has benefited from safe-haven demand in the wake of a run of poor Chinese economic data, while the narrative continues to build for a soft landing for the U.S. economy as price pressures mitigate.<\/p>\n<p>Wall Street economists forecast the core consumer price index (CPI) to have risen 4.8% year-on-year in July, unchanged from the previous month.<\/p>\n<p>Money markets currently lay 86.5% odds for the Fed to forgo another rate hike at its September meeting, and foresee the next move as a cut, likely in spring of next year.<\/p>\n<p>Data on Wednesday showed the Chinese economy slipped into deflation last month, after a report the previous day showed a bigger-than-expected slump for both imports and exports.<\/p>\n<p>However, the yuan edged up slightly to 7.2246 per dollar in offshore trading, strengthening for a second day, after the PBOC set a stronger official mid-point than the market consensus again on Thursday. The  sank to the weakest since July 7 at 7.2514 on Tuesday.<\/p>\n<p>The , which has tended to follow the yuan closely this week, rose 0.15% to $0.65385, rebounding from Tuesday&#8217;s trough at $0.6497, the lowest level since June 1.<\/p>\n<p>New Zealand&#8217;s  rose 0.1% to $0.6058, pulling away from Tuesday&#8217;s low of $0.6035, which was the weakest since June 8.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/economy\/dollar-in-holding-pattern-as-us-inflation-test-looms-pboc-supports-yuan-3150582\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Kevin Buckland and Brigid Riley TOKYO (Reuters) &#8211; The dollar rose to a one-month high above 144 yen on Thursday as monetary policy divergence was front of investors&#8217; minds ahead of crucial U.S. inflation data later in the day that should guide the path for interest rates. Meanwhile, the edged further from a one-month [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":46622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-46621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dollar hits one-month high vs yen before CPI; PBOC supports yuan | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Kevin Buckland and Brigid Riley TOKYO (Reuters) - The dollar rose to a one-month high above 144 yen on Thursday as monetary policy divergence was front\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=46621\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar hits one-month high vs yen before CPI; PBOC supports yuan | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"By Kevin Buckland and Brigid Riley TOKYO (Reuters) - The dollar rose to a one-month high above 144 yen on Thursday as monetary policy divergence was front\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=46621\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-10T06:58:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-10T06:58:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/LYNXNPED850UG_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=46621#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=46621\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Dollar hits one-month high vs yen before CPI; PBOC supports yuan\",\"datePublished\":\"2023-08-10T06:58:12+00:00\",\"dateModified\":\"2023-08-10T06:58:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=46621\"},\"wordCount\":586,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Forex\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=46621#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=46621\",\"url\":\"https:\/\/ifintechworld.com\/?p=46621\",\"name\":\"Dollar hits one-month high vs yen before CPI; PBOC supports yuan | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-10T06:58:12+00:00\",\"dateModified\":\"2023-08-10T06:58:13+00:00\",\"description\":\"By Kevin Buckland and Brigid Riley TOKYO (Reuters) - The dollar rose to a one-month high above 144 yen on Thursday as monetary policy divergence was front\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=46621#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=46621\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=46621#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dollar hits one-month high vs yen before CPI; PBOC supports yuan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dollar hits one-month high vs yen before CPI; PBOC supports yuan | iFintechWorld","description":"By Kevin Buckland and Brigid Riley TOKYO (Reuters) - The dollar rose to a one-month high above 144 yen on Thursday as monetary policy divergence was front","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=46621","og_locale":"en_US","og_type":"article","og_title":"Dollar hits one-month high vs yen before CPI; PBOC supports yuan | iFintechWorld","og_description":"By Kevin Buckland and Brigid Riley TOKYO (Reuters) - The dollar rose to a one-month high above 144 yen on Thursday as monetary policy divergence was front","og_url":"https:\/\/ifintechworld.com\/?p=46621","og_site_name":"iFintechWorld","article_published_time":"2023-08-10T06:58:12+00:00","article_modified_time":"2023-08-10T06:58:13+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/LYNXNPED850UG_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=46621#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=46621"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Dollar hits one-month high vs yen before CPI; PBOC supports yuan","datePublished":"2023-08-10T06:58:12+00:00","dateModified":"2023-08-10T06:58:13+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=46621"},"wordCount":586,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Forex"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=46621#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=46621","url":"https:\/\/ifintechworld.com\/?p=46621","name":"Dollar hits one-month high vs yen before CPI; PBOC supports yuan | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-10T06:58:12+00:00","dateModified":"2023-08-10T06:58:13+00:00","description":"By Kevin Buckland and Brigid Riley TOKYO (Reuters) - The dollar rose to a one-month high above 144 yen on Thursday as monetary policy divergence was front","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=46621#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=46621"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=46621#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Dollar hits one-month high vs yen before CPI; PBOC supports yuan"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/46621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46621"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/46621\/revisions"}],"predecessor-version":[{"id":46623,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/46621\/revisions\/46623"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/46622"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}