NY foreign exchange market = Dollar firm, supported by concerns over the Middle East situation and China

October 9, 2024, 6:11 AM GMT+9 (excerpt)

In the New York foreign exchange market, the dollar remained firm at a level slightly below the 7-week high set last week. Concerns over the escalating tensions in the Middle East, along with worries about the slowdown in the Chinese economy, have been supportive factors for the dollar amidst continued speculation about the pace of US interest rate cuts.
The dollar/yen was up 0.06% at 148.27 yen. The yen initially saw buying interest as a temporary safe-haven asset amid heightened geopolitical risks, but was subsequently pushed back slightly.
This week, attention is focused on the minutes of the September Federal Open Market Committee (FOMC) meeting to be released on the 9th, as well as the September US Consumer Price Index (CPI) to be announced on the 10th.