The U.S. dollar nursed steep losses on Tuesday ahead of a slate of economic data that will shape the interest rate path, while the yen held on to its gains in the wake of Prime Minister Sanae Takaichi’s resounding election victory.
Sterling
was steady in early Asian hours after a volatile Monday as investors weighed the crisis facing Prime Minister Keir Starmer and rising wagers of further rate cuts. It last fetched $1.3682 after rising 0.6% in the previous session.
The Japanese yen
was at 155.85 per U.S. dollar, holding onto its overnight gains when it firmed 0.8%. Verbal warnings from authorities on Monday had helped strengthen the yen after the currency weakened in the immediate reaction to Takaichi’s victory.
