The dollar was steady on
Wednesday as investors adjusted their interest rate outlooks
for the United States and the euro zone after conflicting
economic data and monetary authorities toned down threats of
tighter policy.Competing central bank rhetoric was likely to make trading
conditions more volatile in the days ahead, analysts said.
The dollar rose to near a four-month high against the yen on bets the
Federal Reserve will increase borrowing costs later this year while the
Bank of Japan holds its target at the lowest level among major
economies.
Japan's currency weakened as the Bank of Japan's policy meeting minutes
from May indicated ``considerable downside risks.''
U.K. pound stayed lower against the dollar and euro after minutes from
the Bank of England's June meeting showed policy makers voted 8-1 to
keep its benchmark interest rate unchanged. Policy maker David
Blanchflower voted for a quarter-point cut, arguing evidence of slowing
growth ``more than outweighed'' the news about short-term inflation.
EUR/USD: торговался
в диапазоне $1.5460/1.5540.
GBP/USD: fell to $1.9476 before to rebound till $1.9600/10.
USD/JPY: tested offers near Y108.40, recoiling in a result to
Y107.80.
UK data at 0830GMT sees the May retail sales data, which is expected to
show a 0.2% increase on the month and a rise of 4.2% on the year. Central bank meetings are taking place at the Swiss National Bank,
which announces its interest rate decision at 1200GMT (publishing the
quarterly monetary policy assessment at the same time) and the ECB. US data also starts at
1230GMT, when initial claims are expected to fall 9,000 to 375,000 in
the June 14 employment survey week.
US data continues at 1400GMT, with the Philly Fed Business
OutlookSurvey for June and leading indicators. The Philadelphia Fed
index is expected to rise to a reading of -11.4 in June, yet another
month indicating outright contraction. The leading indicators index is
expected to hold steady in May on the positive impact of a steeper
yield curve and rising stock prices.