Dollar firms after U.S. labor data suggests more rate hikes
By Herbert Lash and Joice Alves NEW YORK/LONDON (Reuters) – The dollar strengthened on Thursday after unemployment claims pointed to a still strong U.S. jobs market and other data showed growing labor costs, indicating the Federal Reserve has further to go in raising interest rates to tame inflation. The yield on two-year Treasury…
Dollar drops as commodity currencies gain on China optimism; euro rises on hot inflation
By Gertrude Chavez-Dreyfuss and Herbert Lash NEW YORK (Reuters) – The U.S. dollar fell across the board on Wednesday, weighed down by firmer commodity currencies that benefited from China’s strong manufacturing activity data, as well as gains in the euro after German inflation soared last month and raised rate hike expectations in the…
Dollar edges higher, set for 1st monthly gain since September
By Gertrude Chavez-Dreyfuss and John McCrank NEW YORK (Reuters) – The dollar ticked higher against major currencies in choppy trading on Tuesday, on track for its first monthly gain since September on views that interest rates will stay elevated for some time as inflation remains stubbornly high, while recession fears kept investors on…
Dollar slips after recent gains, recent uptrend intact
By Herbert Lash and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell from a seven-week high on Monday, tracking a slide in U.S. Treasury yields, as investors consolidated gains after the greenback’s recent rise and looked ahead for the release of jobs data and consumer prices for February. The dollar’s decline was…
U.S. dollar strengthens as Fed minutes signal higher rates
By Laura Matthews NEW YORK (Reuters) – The dollar strengthened on Wednesday after U.S. Federal Reserve meeting minutes showed policymakers are determined to use a slower pace of interest-rate hikes to tame persistently high inflation. The greenback rose in late trading, sending sterling down 0.58% to $1.2036, while the euro fell 0.44% to…
Dollar advances as strong U.S. data backs higher rates backdrop
By Gertrude Chavez-Dreyfuss and Laura Matthews NEW YORK (Reuters) – The U.S. dollar held gains against a basket of currencies on Thursday, bolstered by stronger-than-expected producer prices and falling jobless claims, hinting that the Federal Reserve would have to maintain its inflation-fighting interest rate hikes for longer. Earlier, the dollar index hit six-week…
Dollar hits six-week high vs yen; rises from two-week low after U.S. inflation data
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar hit a six-week high against the yen and recovered from a roughly two-week low against a basket of major currencies on Tuesday as data for January showing the smallest annual increase in U.S. consumer prices since October 2021 did not alter market expectations that…
Dollar falls as markets consolidate gains; up vs yen ahead of inflation data
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell on Monday in choppy trading after last week’s strong rally, weighed down by firmer stocks and lower long-dated Treasury yields, as investors consolidated positions ahead of Tuesday’s crucial U.S. consumer price index (CPI) data. The greenback, however, rose to six-week highs against the…
Dollar flat after Fed official comments; focus on CPI data next week
By Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar was little changed on Thursday as investors looked ahead to next week’s U.S. inflation data and digested comments from a slew of Federal Reserve officials who said modest interest rate rises were on the way. Moving to a federal funds rate of between 5.00%…
Dollar slips after Powell strikes balanced tone on inflation
By Rae Wee and Harry Robertson SINGAPORE/LONDON (Reuters) – The dollar fell on Wednesday after Federal Reserve Chair Jerome Powell declined to meaningfully harden his tone on inflation in a closely-watched speech, despite last week’s very strong employment numbers. In a question-and-answer session before the Economic Club of Washington on Tuesday, Powell said…
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