The dollar fell slightly as recent US jobs news increased the likelihood of a rate cut by the Federal Reserve later this year.
The yen fell after last week’s suspicious interventions triggered a surge.
Over the course of the week, the yen gained 3.5%, marking its biggest weekly gain since early December 2022, in response to two alleged interventions by Tokyo aimed at counteracting the currency’s depreciation against the dollar.
Currently, the yen stands at 153.81 per dollar, a decrease of 0.5%.
The dollar index, which compares the U.S. currency to six other currencies, stood at 105.07, after hitting a more than three-week low of 104.52 on Friday.
Despite posting a 4% increase this year, it suffered a 1% loss last week.
The euro remained stable at $1.0771, while the pound recorded an increase of 0.2% to $1.2572 ahead of the Bank of England’s monetary policy announcement scheduled for Thursday, with the expectation that interest rates will remain stable at 5.25%.
At 10:22, the exchange rates are as follows: Euro/Dollar at 1.0771, Dollar/Yen at 153.81, Euro/Yen at 165.68, Euro/Pound at 0.8564 and Spot Gold at 2,320, 3. The DXY index stands at 105.072 with a change of 0.04 compared to the previous close.
