The euro remained at a nine-month high against the dollar. Still, European stocks fell after regional business activity data confirmed expectations that the European Central Bank (ECB) will raise interest rates by another 50 basis points. According to a survey, eurozone business activity unexpectedly increased in January, indicating that the bloc’s downturn may not be …
As market participants bet on the Federal Reserve of the United States reducing the size of its interest rate hikes for a second consecutive meeting in February, the dollar started the week testing a new nine-month low. The “quiet period” for the Federal Reserve begins before its policy meeting on February 1. However, a report …
The US dollar fell in early European trade Friday, remaining near seven-month lows amid concerns about a slowing US economy, while the sterling fell after weak retail sales data. The Dollar Index fell 0.1% to 101.750, just above the seven-month low of 101.51 set on Wednesday. Investors anticipate the Federal Reserve to slow interest rate …
After a sharp decline in eurozone government bond yields on Tuesday due to the Bank of Japan’s decision to maintain its ultra-loose monetary policy, there was a slight decline on Wednesday in choppy trading. The yield on Germany’s 10-year government bonds, which serves as the benchmark for the currency union, was last down two basis …
The week started off poorly for the dollar, which saw its value decline against a group of significant rivals to a seven-month low in Asian trade before stabilizing. Because traders were betting that the Bank of Japan would continue to alter its yield control policy, the yen was given special attention. The euro reached a …
The Dollar Regains Stability Close to A Seven-Month Low Read More »
The U.S. dollar retreated from a seven-month low on Tuesday. Meanwhile, the Japanese yen fell ahead of the Bank of Japan meeting. The Dollar Index increased 0.1% to 102.005 on Tuesday after falling to a seven-month low of 101.77 on Monday. Early on Tuesday, the dollar found some support, but the market now agrees that …
The dollar fell to a seven-month low versus major peers on Monday. Meantime, the yen soared to a more than seven-month high as traders increased their bets that the Bank of Japan might make additional adjustments to its yield control policy at its meeting this week. After reaching a high of $0.7019 earlier in the …
The US dollar fell in early European trade Friday, extending the previous session’s decline, as lower US inflation allowed the Federal Reserve to slow the pace of interest rate hikes. The US Dollar Index (DXY) fell 0.10% to 101.965 after falling to its lowest level since June earlier in the session. This week, the index …
On Thursday, the yen increased as traders anticipated that the Bank of Japan would review the effects of its monetary easing. Ahead of U.S. inflation data, the dollar remained close to a seven-month low against the euro. At its policy meeting next week, the BOJ will discuss the effects of its monetary easing and may …
The U.S. dollar held steady on Wednesday as traders awaited this week’s consumer price data to see if it would confirm that inflation is slowing. The euro fell against the dollar after a policymaker for the European Central Bank (ECB) declared that the cycle of interest rate hikes was coming to an end. Moreover, ECB …
The US dollar rose slightly in early European trade Tuesday but remained just above a seven-month low as traders awaited Fed Chair Jerome Powell’s speech for more clarity on the central bank’s rate hike cycle. The Dollar Index rose 0.22% to 102.960 after falling to a seven-month low of 102.93 the day before. The dollar …
The U.S. dollar on Monday came close to reaching its lowest level in seven months against other currencies. At the same time, China’s decision to reopen its borders boosted riskier currencies. The Australian and New Zealand dollar, typically considered more liquid proxies for the Chinese currency, sharply increased in value. At the same time, China’s …
Sterling falls in value On Thursday, sterling fell against the euro and the US dollar after business data suggested that Britain is already in recession. The December S&P Global/CIPS UK Services Purchasing Managers’ Index (PMI) was revised slightly lower. While it was higher than in November, new business was down for the second month in …
On Wednesday, the dollar lost ground to commodity currencies like the Australian dollar and the euro, which gained strength from a slew of data that suggested that European inflation may have reached its peak. Investors who have grown more confident about the possibility that China’s relaxation of strict COVID restrictions will give the world’s second-largest …
As Europe’s Inflation Slows, the Dollar Declines Read More »
The primary topic of discussion was the Federal Reserve’s December meeting minutes, and the yen rose to a seven-month high on growing speculation that the Bank of Japan might abandon its ultra-accommodative monetary policy. On Wednesday, the Fed will release the minutes from its December meeting, and traders will look for indicators of the likely …
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