Market News
Dollar firms as solid US data suggests Fed likely to slow easing cycle - REUTERS
Summary
- US job openings rise in November, hiring slows
- US services sector activity increases in December
- US rate futures price in just one rate cut this year
- Bitcoin drops more than 5% after hitting three-week high earlier
NEW YORK, Jan 7 (Reuters) - The dollar strengthened on Tuesday as U.S. economic data showing a generally stable jobs market and a still robust services sector suggested that the Federal Reserve will likely slow the pace of its current rate-cutting cycle.
The greenback rose to a near six-month peak against the yen after the U.S. data. It was last up 0.2% at 157.875 yen . Earlier in the global session, the dollar hit its highest since July of 158.425 yen.
