The U.S. dollar is advancing against major world currencies.
Including the yen fell against the U.S. national currency to its lowest in six weeks on expectations of further interest rate hikes by the Federal Reserve, Trading Economics said.
Meanwhile, the new head of the Bank of Japan Kazuo Ueda said on Monday that the soft monetary policy will remain in force for the time being. Meanwhile, he expects the growth rate of consumer prices to start slowing down soon.
Ueda’s first meeting as the head of the Japanese Central Bank will take place at the end of this week. Following its results the bank will publish an updated economic forecast.
The Euro is trading in the morning at $1.0977 against $1.0992 at the end of the last session.
The value of the single European currency is now around 147.42 yen compared to 147.44 yen on Friday. The dollar exchange rate is 134.30 yen against 134.14 yen at the end of the previous trading day.
The DXY index, which shows the value of the U.S. dollar against six major world currencies, is up 0.04% in trading. The WSJ Dollar, which tracks the movement of the dollar against 16 currencies, rose 0.13%.
The pound is trading at $1.2426 compared to $1.2440 on the previous trading day. The euro is at 0.8836 against 0.8834 a day earlier.
