Forex
US Dollar Steadies Amid Soft Interest Rates and Oil Prices
The US dollar has steadied after its recent surge, thanks in part to softer interest rates and oil prices. Despite this, four of the G10 currencies are down more than 1% this week.
The yen was one currency that would have been among them, but comments from Japan's Finance Minister Katayama about ongoing coordination with the US helped it rise for the first time in six sessions.
Market sentiment has swung nearly as far as it might, given the prospect of a relatively tame PCE deflator and softer September auto sales. As such, there may be signs of a reversal in the foreign exchange market price action soon.