Shafaq News / The dollar ticked lower on Tuesday and the yen regained some ground it had lost in the past two sessions as traders turned their focus to U.S. inflation data later in the day and a slew of central bank meetings ahead.
The dollar was 0.47% lower at 145.54 yen . The pair has had a volatile few days, with the yen surging on remarks taken as hawkish from the Bank of Japan before falling back on a news report downplaying the prospect of an imminent policy change.
"There is talk of a pivot by the Bank of Japan to higher rates and there is some speculation it could come as soon as next week," said ANZ economist Tom Kenny.
"A hike now seems premature with a backdrop of weak consumer spending," he said, though trends in inflation and wages suggest sustainable inflation and ANZ anticipates Japan starting its journey out of super-accommodative negative rates by April 2024.
The euro ticked up 0.22% to $1.0788, and sterling was steady at $1.2556 . The dollar index which tracks the greenback against six peers down 0.2% at 103.86.
Higher iron ore prices and a rebound in Chinese property shares helped nudge the Australian and New Zealand dollars higher
Forty years to the day after its float, the Aussie gained 0.3% higher to $0.6588. The currency started around $0.9000 and has averaged $0.7550 since 1983. It used to be used by global investors as a liquid proxy for commodities, and now for exposure to China, Australia's largest trading partner.
(Reuters)