LONDON (Reuters) – The dollar was trading slightly lower after U.S. jobs growth data raised bets that the Federal Reserve would cut rates this year, while the yen fell after last week’s suspected intervention triggered a rally.
Last week the yen posted its biggest weekly gain since early December 2022 following two alleged interventions by Tokyo to push the currency away from 34-year lows of 160.245 per dollar. It gained 3.5% for the week.
Around 10.20 am Italian time, the yen lost 0.5% to 153.81 per dollar.
The dollar index, which measures the U.S. currency against six others, was trading at 105.07, after hitting a more than three-week low of 104.52 on Friday. The index is up nearly 4% this year, but lost nearly 1% last week.
The euro settled at $1.0771, while the pound gained 0.2% to $1.2572 ahead of the Bank of England’s monetary policy announcement on Thursday, where the central institution is expected to maintain its interest rates unchanged at 5.25%.
(Translated by Enrico Sciacovelli, editing by Stefano Bernabei)
