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2025-12-17 11:30:54
[Dollar hovers near two-and-a-half-month low as market focuses on major central bank decisions] 1. The dollar held steady in Asian trading on Wednesday, hovering near its lowest level since early October. While US jobs data showed better-than-expected job growth, the unemployment rate rose to 4.6%, exacerbating market uncertainty about the timing of future Federal Reserve rate cuts. Investors are awaiting Thursday's US inflation report for clearer policy clues. 2. The dollar index is currently at 98.30, up about 0.1%, after hitting a low of 97.87 on Tuesday, its lowest level since October 3. The index has fallen about 9.5% this year, potentially its biggest annual drop since 2017. 3. Several major central banks will release policy decisions this week, concluding the year's trading. Besides the European Central Bank, the market expects the Bank of England to vote by a narrow margin to cut interest rates. The policy outlook of central banks around the world, especially their guidance for 2026, remains key to influencing the direction of the foreign exchange market. 4. The euro traded at 1.1737 against the dollar, after hitting a 12-week high of 1.1803 in the previous session. Market focus shifted to the European Central Bank's policy decision to be announced on Thursday. The pound fell slightly against the dollar to 1.3408, slightly below Tuesday's two-month high of 1.3455. 5. The dollar rebounded about 0.15% against the yen in Asian trading on Wednesday, trading around 154.94. The Bank of Japan is expected to announce a rate hike to a 30-year high on Friday. On Tuesday, the dollar fell to 154.39 against the yen, a near one-week low.
