Dollar Rises as Yen Lags; Loonie Leads Gains on CPI
The dollar advanced, with the yen lagging behind peers after Sanae Takaichi won the parliamentary vote to become Japan’s prime minister. The Canadian dollar outperformed peers in the Group of 10 after domestic inflation rose more than expected in September.
The Bloomberg Dollar Spot Index climbed 0.3% Tuesday, biggest gain since Oct. 9
It was a third day of advances as traders await the US government’s release of the September consumer price data on Friday
The US government shutdown is on the cusp of becoming the second-longest on record as it enters a fourth week
USD/JPY rose 0.8% to 151.89 on expectations Takaichi will maintain an expansionary fiscal policy
Takaichi said she doesn’t see a need to review 2013 joint policy accord between government and BOJ; wants to improve communication with the BOJ
EUR/USD fell 0.4% to 1.1600
USD/CHF rose 0.5% to 0.7964
USD/CAD fell 0.1% to 1.4020
The consumer price index rose by 0.1% on a monthly basis, Statistics Canada data showed Tuesday. Economists were expecting a 0.1% decline.
Source : Bloomberg.com
