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    • Yen Weakens After Strong Weekly Rally

    By on February 16, 2026
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    Forex Markets Steady After Inflation-Driven Moves

    Singapore:  The US dollar held broadly steady today, while the Japanese yen retreated after giving up part of last week’s sharp gains, as softer US inflation data strengthened expectations that the Federal Reserve could move towards interest rate cuts later this year.

    The dollar index, which tracks the US currency against six major peers, stood at 96.973 after falling 0.8 percent last week. The yen weakened 0.3 percent to 153.15 per dollar, following a near 3 percent rally last week—its strongest weekly performance in around 15 months.

    The euro was little changed at $1.1863, while the pound sterling edged down to $1.36395.

    The Swiss franc also slipped slightly to 0.7686 per dollar after gaining more than 1 percent last week, as investors grew cautious about possible intervention by the Swiss National Bank to curb the currency’s strength as a traditional safe-haven.

    Meanwhile, the Australian dollar rose 0.2 percent to $0.70865, remaining below the three-year high reached last week. The New Zealand dollar fell 0.1 percent to $0.6033 ahead of the Reserve Bank of New Zealand policy meeting on Wednesday. The central bank is widely expected to leave interest rates unchanged.

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