The U.S. dollar was near two-month lows as weak economic data reinforced speculation that the Federal Reserve is nearing the end of its tightening cycle. In contrast, the New Zealand dollar jumped after a bigger-than-expected interest rate hike. New Zealand’s central bank increased interest rates by 50 basis points high of 5.26%, surprising markets, with …
The pound hit a fresh 10-month high against the dollar, while the euro hit a two-month high as the dollar retreated again on market bets that the end of the US rate hike cycle is nearing. Sterling hit $1.2476, its highest level since June 2022, and was last below that level, up 0.42%. The euro …
The dollar rose against other currencies as inflation fears resurfaced after major oil producers unexpectedly cut production targets. Traders bet the Federal Reserve will raise interest rates again next term. Sunday’s announcement of targeted production cuts by OPEC and its allies, known as OPEC+, sent oil prices up about 7.5% in early trading in Asia …
The dollar is headed for a second straight quarterly loss as investors see US interest rates heading higher and expect the dollar’s yield advantage to reverse. As banking volatility weighed on global markets, a slow rise before a rush to safety in mid-March saw the dollar index retreated 1.12% for the quarter. The euro was …
The pound held steady and was nearing its biggest monthly gain against the dollar since the fall. Meanwhile, the sterling advanced nearly 3% against the dollar in March and is heading for an eight-week peak. This week’s statistics showed that food inflation in the UK reached a record high of 17.52% in March. The shortage of …
The dollar held steady against most major peers, ending a recent slide, and also gained sharply against the yen, which has been volatile as Japan’s fiscal year-end approaches. The dollar index was steady at 102.43, giving back a small gain to 0.32% in Europe. It has declined over the past two sessions, falling 2.12% month-on-month, …
The U.S. dollar retreated slightly as fears of full-scale banking instability dampened demand for the so-called on-protected shelter assets. The yen advanced, despite also being traditionally a haven, with analysts pointing to higher flows ahead of the end of Japan’s fiscal year. The dollar retreated to 130.52 yen and was last down 0.38% at 102.49 …
Currency markets react to banking instability fears Read More »
The dollar was steady, and the yen retreated from a seven-week high as investors assessed the actions of authorities and regulators to contain the crisis in the global banking system. The dollar index retreated 0.08% to 103.02, advancing 0.6% on Friday amid worries in the European banking sector. On Monday, the Federal Deposit Insurance Corp. …
Steady dollar and retreating yen amidst regulatory actions Read More »
Market assumptions have shifted sharply. At the same time, the dollar‘s downward momentum has paused, implying that the US-backed currency may be regaining some of the strength it lost recently as interest rates moved. The euro has moved to $1.092 twice in the past two days but has stalled. Similarly, the sterling advanced to $1.24 …
Dollar gains momentum as euro and sterling stall Read More »
The dollar fell to a five-week low ahead of the U.S. Federal Reserve’s policy meeting as investors await the central bank’s path amid global banking volatility. Investors are interested in whether the Fed will continue fighting sticky inflation or pause interest rate hikes amid recent challenges among banks, including bankruptcies and last-minute bailouts. The U.S. …
The dollar ended its longest losing streak 2-1/2 years after the Federal Reserve paused interest rate hikes. Meanwhile, the Swiss franc strengthened following the central bank’s additional increase. The Federal Reserve raised the benchmark funds rate by 25 basis points as widely expected but held back on the current hike needed in favor of some …
The dollar retreated, and the sterling held steady. Traders said the banking crisis could put the Federal Reserve and Bank of England on hold from raising rates. Investors’ attention shifted to central bank meetings due this week after volatility in markets caused by the lack of stability in the worldwide banking sector. The Swiss franc …
The U.S. dollar advanced in early European trade, with safe-haven demand amid ongoing banking volatility and ahead of a Federal Reserve policy meeting scheduled for this week. The dollar index traded up 0.1% at 103.470. The dollar decreased in value during the night following the revelation of emergency liquidity actions by prominent central banks in …
The U.S. Dollar Edged Higher and What is the Reason Read More »
The dollar edged lower after major U.S. energy brokers, including the government and banks, dumped a key stake in regional lender First Republic Bank, restoring some confidence to investors. Thursday’s rescue of the First Republic lifted global risk levels on Friday as worries about global banks eased, paving the way for gains in the Australian …
The euro advanced slightly, with small gains after the European Central Bank took steps to raise interest rates. However, the rate path in the coming period would depend on incoming statistics. The ECB had been increasing rates rapidly to tackle high inflation. However, the sudden failure of the Silicon Valley Bank in the US has …
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