Dollar Weakness Continues Amid Slowing Growth and Inflation
The US dollar continued to decline due to reduced expectations of an early interest rate hike by the Federal Reserve. The currency's value dropped as second-quarter US growth and June PCE inflation showed signs of slowing down.
As a result, the yen strengthened against the dollar, rising from 163.00 to 157.98 yen per dollar. This trend indicates that investors are increasingly seeking safe-haven assets amidst economic uncertainty.