Forex
Dollar Tumbles to Two-Week Low Amid Yen Surge
The US Dollar Index has been on a downward trend, plummeting to a two-week low of around 98.80 during Asian trading hours on Tuesday, September 8.
This decline is partly attributed to the sharp rise in the Japanese yen, which has added momentum to the dollar's recent pullback.
Markets are closely watching this week's inflation data, including Thursday's PPI and Friday's CPI, to gauge the Federal Reserve's policy path for September.
JPMorgan believes that the hawkish repricing of the Federal Reserve's stance, combined with the resilience of the US labor market, is supporting the US dollar.