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    • Dollar Steady as Markets Weigh Global Political and Policy Risks

    By on February 5, 2026
    Dollars
    Dollars

    Dollar Holds Firm, Yen Near Two-Week Low Ahead of Japan Election

    Singapore: The US dollar held steady today as investors remained cautious despite the swift resolution of a partial US government shutdown, while the Japanese yen hovered near a two-week low ahead of a closely watched national election in Japan this weekend.

    The euro traded at $1.1814 in early Asian dealings, while sterling stood at $1.3693, both largely unchanged ahead of policy meetings at the European Central Bank and the Bank of England on Thursday. Both central banks are widely expected to keep interest rates unchanged.

    The dollar index, which measures the greenback against six major currencies, stood at 97.43, close to the one-week high of 97.73 recorded on Monday. The index declined 1 percent in January, following a 9.4 percent drop last year.

    The yen eased slightly to 156.06 per dollar, edging closer to its weakest level since 23 January. On that date, the currency had strengthened sharply from 159.23 amid speculation that the New York Federal Reserve was conducting rate checks, raising the possibility of market intervention.

    The Australian dollar traded at $0.7028, following a sharp 1 percent gain in the previous session after the Reserve Bank of Australia raised interest rates, prompting market expectations of further rate hikes later this year. Meanwhile, the New Zealand dollar edged lower to $0.6040.

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