{"id":105066,"date":"2020-09-21T22:12:40","date_gmt":"2020-09-21T21:12:40","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105066"},"modified":"2020-09-21T22:12:56","modified_gmt":"2020-09-21T21:12:56","slug":"dollar-holds-steady-yen-crawls-northwards-fed-speakers-in-focus","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/dollar-holds-steady-yen-crawls-northwards-fed-speakers-in-focus\/","title":{"rendered":"Dollar holds steady, yen crawls northwards, Fed speakers in focus"},"content":{"rendered":"<ul>\n<li><strong>\u00a0US Dollar Index (DXY) treads water, majors advance<\/strong><\/li>\n<li><strong>Yuan rises before FTSE Russell bond index decision<\/strong><\/li>\n<li><strong>Japan sees thin holiday trade<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The dollar held onto last week\u2019s gains on Monday. The yen and yuan both moved higher, ahead of a barrage of U.S. Federal Reserve speakers this week and before a\u00a0 decision on whether Chinese government bonds would be included in a global index.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Foreigners snapping up Chinese government bonds has helped boost the yuan by over 1% this month, as it climbs back to a 16-month high struck last week\u00a0 rising 0.2% to 6.7648 per dollar.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Should the Chinese government bond be included in the FTSE Russell World Government Bond Index it will likely receive a boost from inflows, supporting the currency. The FTSE Russell is expected to take the decision on Thursday.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">China\u2019s benchmark interest rate is also fixed at 0100 GMT. It is expected to remain unchanged for a fifth straight month.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A public holiday in Japan meant trading was light.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The US Dollar index traded at 92.943, approximately middle of the range it has held since mid\/late July.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The euro edged up to $1.1847 whilst the pound crawled higher to$1.2933. Concerns over rising covid cases will keep gains limited.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Countries across Europe have brought in tighter restrictions to stem the increase of covid cases. The UK is weighing up a second national lockdown.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The yen extended last week\u2019s gains, advancing 0.07% to 104.50 per dollar. Last week the yen experienced its strongest week of gains since June.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That is close to Friday\u2019s 7 week high as risks from US elections to the global economic recovery saw investors seeking our safer havens.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fed Chairman Jerome Powell is expected to testify before Congressional committees this week .Fed committee members Charles Evans, Raphael Bostic, Lael Brainard, James Bullard, Mary Daly and John Williams are due to speak<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors will be listening closely for clues on how they believe\u00a0 the Fed could adopt its more accommodative approach to inflation . This could drive the yen higher\u00a0 if looser monetary policy settings are implied.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The New Zealand dollar traded flat at $0.6762,whilst the Australian dollar added 0.2% to $0.7301 ahead of a Reserve Bank of New Zealand monetary policy meeting later in the week.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">No\u00a0 changes to policy are expected at the Wednesday RBNZ meeting, but any hints of negative rates, or adjustments to the bank\u2019s\u00a0 bond-buying programme could drive volatility in the kiwi. Analysts at ANZ are expecting a dovish tone.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0US Dollar Index (DXY) treads water, majors advance Yuan rises before FTSE Russell bond index decision Japan sees thin holiday trade The dollar held onto last week\u2019s gains on Monday. The yen and yuan both moved higher, ahead of a barrage of U.S. Federal Reserve speakers this week and before a\u00a0 decision on whether Chinese [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2675,1381],"tags":[],"class_list":["post-105066","post","type-post","status-publish","format-standard","category-jpy","category-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dollar holds steady, yen crawls northwards, Fed speakers in focus - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/dollar-holds-steady-yen-crawls-northwards-fed-speakers-in-focus\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dollar-holds-steady-yen-crawls-northwards-fed-speakers-in-focus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dollar-holds-steady-yen-crawls-northwards-fed-speakers-in-focus\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"Dollar holds steady, yen crawls northwards, Fed speakers in focus\",\"datePublished\":\"2020-09-21T21:12:40+00:00\",\"dateModified\":\"2020-09-21T21:12:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dollar-holds-steady-yen-crawls-northwards-fed-speakers-in-focus\\\/\"},\"wordCount\":419,\"articleSection\":[\"JPY\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dollar-holds-steady-yen-crawls-northwards-fed-speakers-in-focus\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/dollar-holds-steady-yen-crawls-northwards-fed-speakers-in-focus\\\/\",\"name\":\"Dollar holds steady, yen crawls northwards, Fed speakers in focus - 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