Ammon News - The dollar was steady on Monday after U.S. inflation data showed only a modest rise last month, easing some concerns about the pace of U.S. rate cuts next year, while the yen loitered near 156 per dollar, raising the possibility of intervention.

Investor sentiment was lifted when a U.S. government shutdown was averted by Congress' passage of spending legislation early on Saturday.

But Friday's data on the Fed's preferred gauge of inflation showed moderate monthly rises in prices, with a measure of underlying inflation posting its smallest gain in six months. That eased some concerns about how much the Fed may cut in 2025.

The euro was languishing at $1.0434, near a two-year low it touched in November, and is down 5.5% this year.

In other currencies, sterling was slightly ahead at $1.2582, while the Australian and New Zealand dollars were on steadier footing after touching two-year lows last week.

The Aussie last fetched $0.6258, while the kiwi was at $0.5657.

In cryptocurrencies, bitcoin was slightly lower at $94,215.

Reuters