Dollar firm after Fed comments; yen under close watch

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The U.S. dollar received a boost against major currency peers on Thursday, as a Federal Reserve official said he wasn't in a hurry to cut rates amid sticky inflation. The yen was holding its ground against the greenback after Japan's top monetary officials suggested they were ready to intervene. Federal Reserve Governor Christopher Waller said recent disappointing inflation data affirms the case for the U.S. central bank holding off on cutting its short-term interest rate target. Market expectations for the first rate cut to occur at the Fed's June meeting have eased somewhat. Traders await key U.S. core inflation figures due on Friday. The yen gained a little after Japanese authorities held a meeting on Wednesday on the currency's weakness. A summary of opinions at the Bank of Japan's March meeting released on Thursday showed policymakers were divided on whether the economy was strong enough to handle an exit from ultra-easy monetary policy. The euro was down 0.11% at $1.0814, while the pound fell 0.17% to $1.2616. Bitcoin rose 1.14% to $69,648.86.

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https://uk.investing.com/news/economy/dollar-firm-after-fed-comments-yen-under-close-watch-3405678