Dollar falls, but investing.com hits month-on-month high on yen

Author: Gina Lee

Investing.com – The dollar fell in Asia on Tuesday morning, but rose to its strongest level in more than a month against the Japanese yen. A jump in US Treasury yields overnight jumped as investors bet on the early rise in the US Federal Reserve’s interest rate hike, which also gave the U.S. currency a small boost.

The greenback is followed by a basket of other currencies that fell 0.04% to 96,180 at 20:52 ET (1:52 GMT).

The pair rose 0.09% to 115.43.

The pair was up 0.13% at 0.7200, and the Australian dollar was close to a two-week low of $ 0.7184 in the previous session. The pair rose 0.07% to 0.6878.

The pair rose 0.32% to 6.3727. it was released on the same day as it was 50.9 better than expected for December.

The pair rose 0.07% to 1.3481. The pound was flat from Monday, falling $ 1.3431 for the first time since Nov. 29.

Markets in Japan, China and Australia reopened after the holidays.

The dollar rose to 115,395 yen for the first time since Nov. 25, while long-term U.S. Treasury yields rose 12.5 points overnight from November 24 to 1.6420% for the first time.

Investors also continue to bet that the Fed will raise interest rates in 2022, as money markets will be fully priced for the first rise in May and another two by the end of 2022.

“The market is pushing the price of the U.S. rate to a more aggressive rate hike in 2022, or at least the risk of that, and that certainly remains the mainstay of the dollar,” Shinichiro Kadota Barclays FX chief strategist Reutersi said.

The number of Global COVID-19 cases also continues to rise, thanks to the omicron variant. As world travel and public services continue to lag behind, the rise is likely to delay the reopening of more U.S. schools after the holidays. Thousands of schools have already delayed opening, and New York City has achieved a 33% positive rate.

However, investors remained hopeful that the blockades would be avoided. Meanwhile, the U.S. Food and Drug Administration approved a third dose on Monday Pfizer Inc. (NYSE:) / BioNTech SE (F 🙂 COVID-19 vaccine for children ages 12-15. The regulator also shortened the time of all booster shots to five months from the primary dose to six months.