FOREX-Dollar soft on renewed Fed rate cut bets; yen on back foot

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Jun 17, 2007
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The dollar was a touch lower on Monday as a soft U.S. jobs report on Friday boosted wagers that the Federal Reserve may still cut rates multiple times this year, while the yen turned lower after last week's suspected intervention. The yen last week clocked its strongest weekly gain since early December 2022 following two bouts of suspected intervention from Tokyo to pull the currency away from a 34-year low of 160.245 per dollar. On Monday, the yen was lower, slipping 0.5% to 153.74 per dollar.
 
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