Greenback is firm, although its funding costs head north ahead of year-end

Greenback is firm, although its funding costs head north ahead of year-end

On Monday, the evergreen buck was nearly intact versus other key currencies in holiday-thinned trade, while the cost of swapping the Japanese yen for the US currency leapt because financial institutions scrambled for raising dollars for the year-end period.

The greenback showed 113.30 yen in Asian trade, hardly getting traction from positive American economic data issued on Friday.

American consumer spending speeded up in November, while shipments of major capital goods orders soared for the 10th straight month.

In November, the Fed’s preferred inflation measure, which is the personal consumption expenditures price index excluding volatile energy and food prices, added 0.1% for an annual soar of 1.5%, speeding up from 1.4% in October.

The data actually assisted in pushing the two-year American yield to a nine-year maximum of about 1.899% and also dollar interest rate futures to price in more than two rate lifts in 2018 for the first time.


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