The U.S. dollar weakened against its major counterparts in the Asian session on Friday. In contrast, the Japanese yen strengthened against its peers, as investors are upbeat about the rising prospects of an interest rate cut by the U.S. Fed next week, and probability of a series of interest rate cuts before the end of the year, in the wake of recent data on U.S. inflation.
While the data has seemingly reduced the likelihood the Fed will cut rates by 50 basis points next week, rates are still expected to be notably lower by the end of the year. CME Group's FedWatch Tool currently suggests rates will be lower by at least a full percentage point following the Fed's December meeting.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.