On Monday, the evergreen buck marked time in Asia after evident signs of wage pressure in the December American jobs report proved enough to raise Treasury yields, though with bulls wary of a setback following the previous week’s wave of profit-taking.
A holiday in Tokyo kept trading light, while the dollar index kept to 102.22, close to the middle of the previous week’s range 101.30-103.82.
The greenback was a fraction firmer on the Japanese yen at 117.30. It had already revived all the way from a 115.06 minimum on Friday, though remained short of the next key chart objective around 118.60.
The common currency was steady at $1.0534, having ricocheted between $1.0339 and $1.0621 the previous week.
By the way, there were lots of hints of inflationary pressure in Friday’s mixed American payrolls report to back the case for more interest rate lifts and reverse a down move in yields and the greenback.
The outlook for American rates might become a little clearer when Janet Yellen appears at a webcast town hall gathering with educators on Thursday.
