Stable dollar sendsout yen to the verge of 160

Stable dollar sendsout yen to the verge of 160

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By Tom Westbrook

SINGAPORE (Reuters) -The dollar was company on Wednesday and trading on the precipice of the 160 yen barrier as financiers turned careful and counted down to the release of U.S. rate information at the end of the week.

A dive in Australian inflation to a six-month high sentout the dollar up 0.3% to $0.6667 in otherwise controlled markets as traders began to cost a 30% threat of a Reserve Bank of Australia (RBA) rate walking as quickly as August.

“The RBA’s next board conference on August 6th is now ‘live,'” stated Tony Sycamore at brokerage IG Markets.

A comparable surprise in Canadian inflation had sentout the Canadian dollar briefly spiking to a three-week high.

Elsewhere the euro was consistent at $1.0714 in Asia and at 159.78 per dollar, the yen’s level has markets on alert for intervention because that is just a hair shy of where Japanese authorities mostlikely stepped in to buy yen in April.

Markets are banking that Friday’s U.S. information reveals yearly development in the Federal Reserve’s favoured core individual usage expense index slowed to 2.6% in May, the leastexpensive in more than 3 years and opening the method to rate cuts.

Policymakers, nevertheless, continue to signal they are in no rush, with Fed Governors Lis

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