NEW YORK: The dollar rose against the rouble on Monday, although it was off the 15-month high hit earlier in the session, while the Japanese yen gained modestly against the greenback following comments from the country’s top currency diplomat.
Senior Russian officials rallied around President Vladimir Putin on Monday while state media said authorities were still investigating mercenary leader Yevgeny Prigozhin, whose weekend mutiny appeared to pose a major threat to the Russian leader’s 23-year-old rule.
“We had that rapid escalation and just as fast de-escalation and it goes to show you this was a serious a threat for Putin to agree to terms to make a deal with Prigozhin,” said Edward Moya, senior market analyst at OANDA in New York.
The Russian rouble weakened 0.90% versus the greenback at 84.40 per dollar after hitting its weakest level since March 2022.
The Japanese yen strengthened 0.11% versus the greenback at 143.52 per dollar. The Bank of Japan last intervened in the yen when it traded around 145 per dollar.
“Whenever you have intervened and you have seen it work a little bit and then the price comes back to where you intervened in the past it’s like oh, start jawboning again,” said Moya.
The dollar index fell 0.01% at 102.730, edging up on a safe-haven bid as concerns about a slowing global economy linger in the midst of aggressive tightening actions by central banks.
The euro was up 0.16% to $1.0906 ahead of remarks by European Central Bank President Christine Lagarde at the ECB Forum on Central Banking in Sintra.
Sterling was last trading at $1.2707, down 0.03% on the day.
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