The dollar rose to its highest level in almost two years on Tuesday, bolstered by hawkish remarks from Federal Reserve members who advocated for a rapid decrease in the central bank’s bloated balance sheet, with one of them suggesting openness to half-point rate hikes. The dollar index climbed to 99.526, its highest level since late …
In early Moscow trade on Friday, the Russian ruble hit a five-week high against the dollar before settling in the 83-84 zone. In contrast, Russian equities rose as investors focused on developments in Ukraine and the ongoing gas payments problem. The ruble was 0.2 percent lower than the dollar at 83.37 (RUBUTSTN=MCX) at 1319 GMT; …
Russian Equities Rise, The Ruble Eases After Five-Week High Read More »
The euro fell on Monday as Germany and France announced a fresh wave of sanctions against Russia in response to “quite clear evidence” of war crimes in Ukraine. The euro, which has been under pressure owing to concerns about the economic impact of the Ukraine conflict, fell 0.15 percent against the dollar at 0755 GMT …
The Euro Dragged Down by Additional Sanctions on Russia Read More »
This week, senior U.S. officials fanned out to push other leaders to continue pressure on Moscow; they urged them to join the sanctions and other measures campaign as the Ukraine crisis enters its fifth week. The early economic harm to Russia appears to be ebbing. The initiative comes as the immediate impact of the United …
As the Rouble Rises, US Pushes to Maintain Pressure on Putin Read More »
Analysts believe Russia has offered to buy back dollar bonds expiring next week in rubles; this should alleviate the country’s hard-currency repayment load; moreover, it will allow local investors of the $2 billion sovereign issue to get payment. The offer by Russia’s finance ministry on Eurobonds due on April 4, the country’s largest debt payment …
On the Day of $2B Payment, Russia Launched Eurobond Offer Read More »
The euro sank on Thursday as investors worried about the situation in Ukraine and the lack of progress in peace negotiations. At the same time, the Norwegian crown plummeted after the central bank opted to purchase foreign currency. Russian forces are preparing further strikes, according to Ukrainian President Volodymyr Zelensky; peace negotiations set to start …
The Euro Falls as Investors Remain Wary About Ukraine Read More »
After talks with his counterparts on Monday, Germany’s Robert Habeck indicated that energy ministers from the Group of Seven industrialized nations reject President Vladimir Putin’s demands that “unfriendly” countries pay for Russian gas in roubles. After a virtual meeting with G7 energy ministers, Habeck, Germany’s economy and climate protection minister, said, “All G7 ministers have …
Putin’s Proposal for Rouble Payment for Russian Gas Rejected Read More »
The rand fell off a five-month high versus the dollar early Monday as the greenback rallied; China’s reimposition of a lockdown impacted risk-taking in Shanghai. The rand (USDZAR) was trading at roughly 14.6100 per dollar at 0605 GMT, down 0.43 percent from its closing on Friday, when it hit 14.4738, its highest level since Oct. …
The Rand of South Africa Weakening as The Dollar Strengthens Read More »
On Friday, the Australian and New Zealand currencies had back-to-back weekly gains; the pair was supported by forecasts of rising interest rates and surging commodities prices, which have pushed the Australian dollar to a six-year high. The Australian dollar (AUD=D3) remained steady at $0.7511 after hitting a four-and-a-half-month high of $0.7527 overnight. The high of $0.7555 in …
On Wednesday, the head of an Indian exporters’ organization said that India would unveil a payment plan to allow commerce with Russia to continue. According to A Sakthivel, head of the Federation of Indian Export Organizations, the so-called rupee-ruble trading system might be implemented next week (FIEO). FIEO oversees India’s export promotion councils; a government-backed …
Agreement Between India and Russia, Ready in A Week Read More »
The dollar remained steady versus key rivals on Wednesday. The early-week lift from the U.S. Federal Reserve’s strong attitude faded as investors awaited President Joe Biden’s travel to Europe to announce further sanctions against Russia. Biden, who will go to Brussels on Wednesday for discussions with NATO and European leaders, will advocate reducing Europe’s reliance …
Dollar Flat as Biden Travels to Europe to Impose Sanctions Read More »
Following a hawkish speech by US Federal Reserve Chair Jerome Powell and the worsening crisis in Ukraine, most Asian currencies continued to weaken on Tuesday; the South Korean won, and Thai baht led the declines. In a speech on Monday, Powell said that taming inflation requires acting “quickly” and maybe “aggressively”; this boosted the currency …
Currency Concerns After Ukraine War, Pushed Yields Higher Read More »
The dollar rose slightly against the Japanese yen on Monday morning in Asia, reaching as high as 119.3 yen, threatening the six-year high of 119.39 reached on Friday. By 11:47 p.m. E.T., the U.S. Dollar Index, which measures the dollar’s value against a basket of other currencies, had risen 0.05 percent to 98.278. (3:47 AM …
On Thursday, investors followed Russia–Ukraine peace negotiations and news of foreign currency coupon payments on Russia’s sovereign debt. The Russian rouble climbed in Moscow trade and was slightly lower abroad. As the invasion reached its fourth week, Russia resumed bombardment of Kyiv, Ukraine’s capital. Russia’s offensive has paused, according to Western sources and Ukrainian authorities. …
The comeback in Australia’s and New Zealand’s currencies and a strong employment market support a rate rise by the Reserve Bank of Australia. On Thursday, the Australian and New Zealand currencies recovered as positive domestic data drove bond yields higher, driving the Aussie to low-yielding yen highs not seen since early 2018. In another of …
Australia Rebounds, Rising Currency, Falling Unemployment Read More »
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