Dollar shrugs off Fitch’s U.S. downgrade, advances on strong jobs data
By Herbert Lash and Harry Robertson NEW YORK/LONDON (Reuters) -The dollar rose on Wednesday as investors shrugged off Fitch’s U.S. credit rating downgrade while data showing a larger-than-expected increase in private payrolls in July bolstered the greenback as it points to labor market resilience. Private payrolls rose by 324,000 jobs last month, the…
Dollar shaky after US credit rating downgrade
By Rae Wee SINGAPORE (Reuters) – The dollar struggled to make headway on Wednesday after a cut on the U.S. government’s top credit rating by Fitch raised questions about the country’s fiscal outlook, though it drew some support from a relatively resilient run of economic data. Rating agency Fitch on Tuesday downgraded the…
US dollar rises as strong data push against dovish policy narrative
By Laura Matthews NEW YORK (Reuters) – The dollar strengthened against the euro on Thursday, after better-than-expected U.S. economic data continue to foil investors’ expectation for relatively dovish monetary policy from the Federal Reserve. A recent string of strong data show that, for now, the U.S. is staving off a recession, increasing the…
Dollar falls after Fed rate hike
By Laura Matthews NEW YORK (Reuters) – The dollar fell against a basket of its peers on Wednesday after the Federal Reserve raised interest rates by a quarter of a percentage point, citing still-elevated inflation as a rationale for what is now the highest U.S. central bank policy rate in 16 years. The…
US dollar flat as market awaits clarity from central banks
By Laura Matthews NEW YORK (Reuters) – The dollar was flat against a basket of its major peers on Tuesday, as investors hope a trio of central bank meetings this week will provide guidance on the outlook for monetary policy. Signs of an extremely resilient U.S. economy helped the currency recover from a…
Dollar clings to gains with central banks in focus
By Laura Matthews New York (Reuters) – The dollar clung to gains against the euro on Monday after recent economic data showed a stronger U.S. economy and a slowing euro zone as traders look beyond a trio of central bank meetings this week for clues to the outlook for monetary policy. A closely-watched…
Dollar firms, yen steady after Japan inflation holds above BOJ target
By Ankur Banerjee SINGAPORE (Reuters) – The dollar was steady on Friday as data pointed to U.S. labour market resilience that could lead the Federal Reserve to keep interest rates higher for longer, while the yen strengthened after Japan’s core consumer inflation re-accelerated in June. Central bank meetings from Europe, Japan and the…
Dollar gains as pound tumbles on cooling UK inflation
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar bounced on Wednesday after inflation in the United Kingdom cooled more than economists expected in June, sending the pound sharply lower against other major currencies. Britain’s rate of inflation was its slowest in over a year at 7.9%, according to data that will…
Dollar bounces from 15-month low on strong core U.S. retail sales
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar rose from a 15-month low against a basket of currencies on Tuesday after core retail sales saw strong gains in June, as investors wait on the Federal Reserve’s interest rate decision next week. Headline U.S. retail sales rose less than expected in June,…
Dollar buckles on US disinflation signs as Fed nears end of hiking cycle
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar sank to its lowest since April 2022 on Thursday, as cooling U.S. inflation bolstered expectations the Federal Reserve would hike interest rates just one more time this year, eroding the greenback’s yield advantage over its peers. Against a basket of six currencies, the dollar…
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