NY foreign exchange market = dollar softening, yen's biggest weekly decline since June

August 17, 2024 6:38 AM GMT+9 (some excerpts)

At the end of the New York foreign exchange market, in addition to the dollar falling sharply against the yen, it also weakened against other currencies. In the market, a movement to determine the intention of the US Federal Reserve (FRB) to cut interest rates spread while digesting the economic indicators announced on this day.
US housing indicators also put pressure on the dollar.
The number of single-family housing starts (seasonally adjusted) in July announced by the U.S. Department of Commerce on the 16th decreased 14.1% from the previous month in terms of an annualized rate to 851,000, declining for 5 consecutive months.
The dollar index against major currencies fell 0.48% to 102.54.
The dollar fell 1.04 percent against the yen to 147.75 yen. In the previous day's transaction, it had a high price of 149.40 yen for the first time in two weeks.