The market started trading this week cautiously as investors awaited speeches from policymakers from major central banks.
The greenback dollar graced the market with a weak movement, erasing some of the gains made at the end of last week.
The US dollar was down nearly 0.5% against the euro at 1.0540. Over the weekend, Federal Reserve (Fed) Governor Christopher Waller expressed his support for another 75 basis point hike in July if inflation data met his expectations.
While Cleveland Fed President Loretta Mester said it would take up to two years for inflation to return down to the central bank’s target of 2%.
At the beginning of the Asian session, the People’s Bank of China (PBOC) announced to keep the 5 -year loan prime rate unchanged at 4.45%.
Moreover, reports that the United States reportedly revised tariffs on Chinese imports and also evaluated the cessation of federal gas taxes to lower prices, gave little support to market sentiment to rise.
The pound also rose slightly, taking advantage of UK Treasury Minister Simon Clarke's statement that he did not expect a recession in the country, besides adding that the long -term outlook for the economy is very positive.
The yen, meanwhile, hovered at a 24 -year low, weighed down by Japan’s continued dovish stance of the central bank of Japan after announcing on Monday to buy Japan’s 5- and 10 -year unlimited government bonds (JGB).
