The Dollar Remained Stable The dollar held steady but was pinned near sixteen-week lows against a basket of major currencies and, in October, fueled investor hopes that interest rates would soon peak. The dollar index compares the currency to six other currencies, including the yen and euro. It rose 0.191% to 104.840, but it was …
Sterling at Fresh 16-Week High On Thursday, sterling rose to a near 16-week high against a broadly weak dollar, with currency traders ignoring gloomy British manufacturing data for the time being. The pound was last up 0.8% against the dollar, trading at $1.2157, its highest level since August 12, surpassing the previous high of $1.2153 …
The Dollar Is Set to Suffer Its Largest Monthly Loss On Wednesday, the dollar fell from a one-week high ahead of Federal Reserve Chair Jerome Powell’s speech. At the same time, optimism about possibly loosening China’s COVID restrictions set it on track for its huge monthly loss since late 2010. In the Eurozone, inflation in …
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Dollar Weakens, Yuan Rises The U.S. Dollar fell in early European trade on Tuesday, while the Chinese renminbi rose on hopes that the Chinese government will ease travel restrictions and increase risk appetite. The Dollar, which measures the value of the U.S. Dollar against a basket of six other currencies, fell 0.4011% to 106.165 after …
The Dollar Fell in Value The dollar fell on Monday as investors weighed the recent drop in US government bond yields, while China’s yuan fell to a two-week low due to anti-government protests. Protests erupted across China. On Sunday night, hundreds of protesters and police officers clashed in Shanghai. The onshore yuan in China finished …
Investors’ concerns over the possibility of the Federal Reserve slowing the tightening of monetary policy as early as December caused the U.S. dollar to edge up slightly on Friday but to remain close to a three-month low and on track for a weekly loss. After the GfK institute survey revealed on Friday that German consumer …
Sterling Maintains Its Three-Month High Despite a tough winter in Britain amid a cost-of-living crisis and rising interest rates, sterling gained on Thursday, nearing a three-month high against a weaker US dollar. The pound traded at $1.20195, up 0.411% against the dollar. Earlier, it touched $1.2113, the highest level since August 17. The sterling was …
As investors rushed to the haven dollar on Tuesday due to concerns over China’s COVID flare-ups, the dollar stabilized after rising the previous day. Bitcoin, however, came under pressure due to worry about new contagion following the bankruptcy of cryptocurrency exchange FTX. The dollar was at 141.86 yen, down 0.18% after a 1.2% gain; the …
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Even as a top central banker cautioned that borrowing costs would need to go higher to get a grip on inflation, Israel raised interest rates less than expected by most economists. The longest monetary tightening cycle in decades remains intact as policymakers raise the benchmark rate from 2.75% to 3.25% for the sixth consecutive year. …
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On Monday, the U.S. dollar was solidly higher than a basket of other currencies as mounting COVID-19 cases in China prompted tougher regulations and dampened market mood worldwide. China is dealing with a lot of COVID flare-ups. This has helped the dollar, which is a haven during economic uncertainty worldwide. Against the Japanese yen, the …
Foreign Investors Are Calculating Their Own Forex Rate in Nigeria Due to a chronic dollar shortage, the naira trades at an official and a much lower parallel rate. Correspondingly, foreign investors are using their calculations to value their ambushed Nigerian holdings. Pricing for two stocks listed in Lagos and London, Airtel Africa Plc and Seplat …
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On Thursday, the dollar climbed as U.S. Treasury rates rose as investors watched for aggressive remarks from Federal Reserve officials. At the same time, the British pound dropped due to investors’ dissatisfaction with the U.K. government’s most recent budget. The dollar recovered a touch after sliding in recent weeks as speculation that the U.S. central …
As investors analyzed conflicting U.S. economic statistics on Thursday, the dollar advanced, while the British pound reversed course and fell ahead of the government’s budget statement. The dollar’s value has fallen in recent weeks as inflation statistics, and remarks from Federal Reserve officials have raised hopes that the central bank would soon be able to …
The Dollar Regains Value, Will the Uptrend Continue? Read More »
Asia Stocks Shining Their Best Light Since 1998 Some analysts worry China’s reopening euphoria will give way to the harsh reality of a looming global recession. A world-beating rally across Asian markets looks precarious. As bets for a softer Federal Reserve tightening and China’s shift away from COVID-Zero ignited a buying fever, stocks are on …
To avoid escalating tensions with Russia, Western authorities minimized the impact of a lethal missile attack on a Polish hamlet, which led to a decline in the value of the U.S. dollar in early European trade on Wednesday. The Dollar Index measures the dollar’s value against six other currencies. It declined 0.3% to 106.013 at …
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