Minutes of the Fed's September meeting confirmed this week that a tapering of stimulus is all but certain to start this year, although policymakers are sharply divided over inflation and what they should do about it.
The dollar index is "looking a little shaky, but any slippage should prove modest" with Fed tapering now imminent, Westpac strategists wrote in a client note. The next major test of the U. The euro slipped 0. The risk-sensitive Aussie dollar edged down 0. Ether , the world's second biggest cryptocurrency dropped 1. Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
More from Reuters. Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. Sign up. Global growth is losing momentum — with the International Monetary Fund reducing its forecasts for the U. Expectations for eventual tightening from the Federal Reserve, however, has been one factor behind higher Treasury yields over the past month, which in turn are giving the dollar a boost.
The U. Dollar Index DXY, On an inflation-adjusted basis, things get even worse for the yen. The Plaza Accord is the historic agreement that marked a successful effort by G-5 nations, including Japan, to reverse what had been an overvalued dollar.
Gold futures scored a sixth straight session gain on Thursday, with prices settling at their highest since June.
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