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Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.
The yen reached a 2.5-month high on Thursday, with the dollar, euro, and sterling falling over 1% ahead of next week's BOJ meeting.
The US dollar rose on Wednesday as traders awaited inflation data. June home sales fell more than expected, and median prices hit a record high.
The dollar dipped Tuesday as the Trump trade unwound, easing Treasury yields. Harris secured enough delegates for the Democratic nomination.
The dollar fell on Monday as investors reacted to Biden ending his re-election bid. The yen strengthened as June exports rose for the seventh month.
The dollar steadied on Friday, poised to end a two-week decline, as US data fueled speculation on the timing and scale of Fed rate cuts.
The dollar firmed on Thursday after hitting a four-month low, as growing expectations of Fed rate cuts weighed on the greenback and Treasury yields.
On Wednesday, the dollar weakened despite a brief lift from strong retail sales. Traders' attention shifted to potential September rate cuts.
The dollar rose from five-week lows on Tuesday as investors weighed rate-cut prospects after Fed Chair Powell's comments and Trump's re-election odds.
On Monday, the dollar rose broadly as traders anticipated a Trump election victory following an attempted assassination of the former president.
The yen softened after Friday's volatile start, with an earlier sharp surge sparking speculation that Tokyo intervened to lift it from 38-year lows.
On Thursday, the dollar dropped as Fed Chair Jerome Powell suggested a nearing interest rate cut, contingent on further inflation declines.
The dollar rose Wednesday after Fed Chair Powell said a rate cut won't happen until the Fed is confident inflation is heading to the 2% target.
US dollar near multi-week low, 76% odds of a September rate cut per CME Group's FedWatch Tool ahead of Powell's testimony.
The dollar steadied after a 1% loss last week. CME's FedWatch Tool shows 76% odds of a rate cut at the Fed's September meeting.