Reported 8 months ago
The U.S. dollar reached a seven-week high against the yen, while the sterling and euro weakened as attention turned to the U.S. economy cooling down, potentially leading to a Federal Reserve rate cut this year. Market watchers are waiting for more data to support this trend, with recent tepid May retail sales and weakening labor market indicators. The Bank of Japan's dovish stance and potential intervention to boost its currency have also impacted the markets. Overall, the dollar index rose, supported by weakness in the euro and sterling, while cryptocurrencies saw bitcoin rising slightly.
Source: YAHOO