On Monday, the dollar held steady, supported by rising Treasury yields. Investors await key events: the ECB meeting and the PCE report.
EBC Forex Snapshot
23 Oct 2023
The dollar was largely unchanged on Monday, underpinned by the steady rise in Treasury yield. Key events that investors are waiting for include the ECB’s meeting and the PCE report.
A poll by Reuters shows while the ECB is done raising rates it will not revert to an expansionary policy until at least July 2024.
The yen rallied after easing below 150 per dollar. The BOJ's money market data suggested that the yen's strengthening was unlikely the product of intervention.
|Citi (as of 16 Oct)||HSBC (as of 19 Oct)|
The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains unchanged.
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