2 hrs ago

Dollar Dips as Oil Eases, Yen Jumps on Japan Remarks

Dollar dips as oil eases, yen jumps on Japan remarks · livemint.com

The dollar became a little weaker on Friday after oil prices fell.

However, investors still expected the dollar to finish the week higher.

The Japanese yen became stronger after Japan and the United States warned that the yen may be too weak.

They also said they would work together on the issue.

Investors were watching to see whether the United States Federal Reserve would raise interest rates again.

Higher interest rates can make a currency more attractive to investors.

The euro was heading toward its third weekly loss, while the British pound stayed close to a recent low.

Oil was still expensive, costing more than $100 per barrel.

Key facts

Dollar index: Fell 0.3% to 100.95 and was headed for its largest daily decline in about three weeks.
Yen: Rose 1.06% to 157.13, its biggest daily gain against the dollar since September 7.
Federal Reserve hike odds: Expectations for an October rate increase rose to about 66%, from approximately 58% one week earlier.
Euro: Rose 0.15% to $1.1396 but was headed for a third straight weekly decline.
Sterling: Strengthened 0.23% to $1.3246 but remained near a three-month low.
Oil: Prices fell more than 2% but remained above $100 per barrel.
United States economic data: August manufactured capital-goods orders increased more than expected, while consumer sentiment rose to 48.1 from 47.8.

livemint.com · 2 hrs ago