Thursday, May 12, 2016

Forex - Dollar regains some ground, but upside seen limited

© Reuters. Dollar edges moderately higher against other majors© Reuters. Dollar edges moderately higher against other majors - The U.S. dollar regained some ground against other major currencies on Thursday, but gains were expected to remain limited as investors remained cautious ahead of the Bank of England's policy decision due later in the day, as well as U.S. jobless claims data.

climbed 0.53% to 108.98.

Sentiment on the yen remained fragile since that financial authorities are prepared to intervene in the currency market if excessive moves in the yen are enough to affect the country's economy.

However, that it would be difficult for Japan's finance ministry to intentionally weaken the yen to boost exports.

held steady at 1.1421.

was little changed at 1.4437. Later Thursday, the BoE was expected to leave its monetary policy unchanged.

Investors were looking to comments by BoE Governor Mark Carney, scheduled after the policy statement, for indications on the central bank's future policy moves.

The , which measures the greenback's strength against a trade-weighted basket of six major currencies, was up 0.11% at 93.90.

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