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FOREX-Dollar rises after Fed Dudley's comments, yen falls
2017年6月19日 / 晚上7点04分 / 5 个月前

FOREX-Dollar rises after Fed Dudley's comments, yen falls

    * Fed's Dudley confident rising wages would boost U.S.
    * Yen weakens as BOJ downplays reduction of stimulus
    * Sterling slips in advance of Brexit negotiations start

 (Updates market action)
    By Richard Leong
    NEW YORK, June 19 (Reuters) - The dollar gained on Monday as
an influential U.S. Federal Reserve official expressed
confidence that rising wages would help revive domestic
inflation, which has shown signs of softening recently.
    The yen fell to two-week lows against the greenback and the
euro after officials of the Bank of Japan at a meeting on Friday
downplayed the likelihood that the bank would begin to roll back
emergency stimulus to support the economy.
    Remarks by New York Fed President William Dudley on Monday
that tightening in the labor market should help drive up
inflation helped offset concerns by some investors that
stubbornly low inflation would not allow policy-makers to raise
rates further the rest of this year.
    "The Fed doesn't seem to be too concerned about the recent
pullback in the inflation data. They are committed to policy
normalization," said Eric Viloria, currency strategist at Wells
Fargo Securities in New York.
    Last week, the Fed, as expected, raised key overnight
borrowing costs by a quarter point and left the door open for
another rate increase later this year. It also provided details
on its plan to reduce its bond purchases in a bid to shrink its
$4.5 trillion balance sheet.
    "Inflation is a little lower than what we would like, but we
think that if the labor market continues to tighten, wages will
gradually pick up, and with that inflation will gradually get
back to 2 percent," Dudley told a local business group in
Plattsburg, New York.
    Traders raised their outlook on a rate hike by the Fed's
Dec. 12-13 policy meeting to 47 percent from 41 percent late on
Friday, CME Group's FedWatch tool showed.
    The dollar index, which gauges the dollar against six
other currencies, was up 0.4 percent at 97.537.
    The euro was down 0.4 percent versus the greenback, to
$1.1147, while against the yen the dollar increased 0.5
percent, at 111.43 yen.
    The euro was up 0.1 percent against the yen, at 124.25 yen
    Positioning data showed net bullish bets on the euro reached
their highest level in more than six years last week.
    There was no discernible boost for the single currency from
the landslide victory of French President Emmanuel Macron's
government in parliamentary elections on Sunday.
    Sterling declined 0.4 percent to $1.2732 as Britain
began formal negotiations on its planned exit from the European
    The UK ruling Conservative Party's loss of its parliament
majority earlier this month raised speculation of a drift toward
a "soft Brexit," which had supported the pound. Many analysts,
however, expect developments from the talks would hurt sterling.
    Currency bid prices at 2:29PM (1829 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct
                                              Previous                   Change
 Euro/Dollar      EUR=        $1.1148        $1.1197     -0.44%         +6.04%
 Dollar/Yen       JPY=        111.4800       110.8400    +0.58%         -4.61%
 Euro/Yen         EURJPY=     124.29         124.12      +0.14%         +0.93%
 Dollar/Swiss     CHF=        0.9753         0.9736      +0.17%         +0.00%
 Sterling/Dollar  GBP=        1.2736         1.2774      -0.30%         +3.24%
 Dollar/Canadian  CAD=        1.3220         1.3210      +0.08%         +0.00%
 Australian/Doll  AUD=        0.7594         0.7616      -0.29%         +5.25%
 Euro/Swiss       EURCHF=     1.0873         1.0898      -0.23%         +1.46%
 Euro/Sterling    EURGBP=     0.8753         0.8755      -0.02%         +2.76%
 NZ               NZD=        0.7228         0.7248      -0.28%         +0.00%
 Dollar/Norway    NOK=        8.4910         8.4451      +0.54%         +0.00%
 Euro/Norway      EURNOK=     9.4639         9.4588      +0.05%         +4.16%
 Dollar/Sweden    SEK=        8.7473         8.7067      +0.05%         +0.00%
 Euro/Sweden      EURSEK=     9.7520         9.7471      +0.05%         +1.80%

 (Additional reporting by Patrick Graham in London, Masayuki
Kitano in Singapore and Shinichi Saoshiro in Tokyo; Editing by
Marguerita Choy and Leslie Adler)

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