Dollar Gains Ground, Yen Flat

London: 15 March 2024 (TraderMade): The US Dollar is strengthening this week, consolidating gains after hotter-than-expected US inflation data raised concerns about the Federal Reserve delaying interest rate cuts.

The Dollar Index is on track for its first weekly gain in four weeks.

Yen Steady

Meanwhile, the Japanese Yen remains flat despite positive signs for the Japanese economy. Recent wage hikes from major companies have fueled speculation that the Bank of Japan will soon end its negative interest rate policy.

However, uncertainty surrounding the timing of this decision is keeping the Yen from appreciating significantly.

Fed & BoJ Decisions Loom

Market participants look ahead to key policy decisions from both the Federal Reserve and Bank of Japan next week. These meetings will likely determine the near-term direction for the US Dollar and Japanese Yen.