Dollar slumps to 9-month low on expectations of dovish Fed pivot
By Ambar Warrick Investing.com– The dollar tumbled to a nine-month low against a basket of currencies on Thursday, even after the Federal Reserve reiterated its commitment to keep hiking interest rates, with markets betting that the ensuing economic headwinds will force the bank into cutting rates as soon as this year. The dollar…
Wage data dents dollar recovery before Fed rate decision
By Karen Brettell NEW YORK (Reuters) – The dollar fell on Tuesday, giving up earlier gains, after data showed U.S. labor costs increased less than expected in the fourth quarter, and before the Federal Reserve is expected to hike rates by 25 basis points on Wednesday. The Employment Cost Index, the broadest measure…
Dollar gains as central banks take central stage
By Karen Brettell NEW YORK (Reuters) – The dollar rose on Monday, a day before the Federal Reserve was due to begin a two-day policy meeting, while the euro was boosted by unexpectedly high inflation data before the European Central Bank meets on Thursday. The U.S. central bank is widely expected to hike…
Dollar cautiously firm ahead of busy central bank week
By Rae Wee SINGAPORE (Reuters) – The dollar firmed on Monday and distanced itself from an eight-month trough ahead of a slew of central bank meetings this week, including the Federal Reserve’s, with traders keenly focused on guidance for the path of interest rate rises. The U.S. dollar index, which measures the greenback…
Dollar higher as strong U.S. data backs a hawkish Fed
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar edged higher against the euro on Thursday after data showed the U.S. economy maintained a strong pace of growth in the fourth quarter, backing the case for the U.S. Federal Reserve to maintain its hawkish stance for longer. Gross domestic product increased at…
Dollar near eight-month low ahead of central bank meetings
By Rae Wee SINGAPORE (Reuters) – The dollar lolled near an eight-month low against its peers on Thursday, as a gloomy U.S. corporate earnings season stoked recession fears and as traders stayed on guard ahead of a slew of central bank meetings next week. The U.S. dollar index, which measures the greenback against…
Dollar slips as upbeat euro zone business activity data lifts euro
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar edged lower against the euro on Tuesday after data showed euro zone business activity made a surprise return to modest growth in January, while U.S. business activity shrank for a seventh straight month. While U.S. business activity shrank in January, the downturn moderated across…
Dollar edges lower vs euro on ECB rate hike bets
By Saqib Iqbal Ahmed and Samuel Indyk NEW YORK (Reuters) – The dollar slipped against the euro on Monday, at one point hitting a fresh 9-month low, as the common currency found support from European Central Bank officials’ comments signalling additional jumbo interest rate rises in Europe. The euro reached as high as…
Gold prices cool after strong rally, head for fifth week of gains
By Ambar Warrick Investing.com– Gold prices hovered at a nine-month high on Friday after a sharp rally in the prior session, and were headed for a fifth consecutive week of gains amid resurgent safe haven demand and growing uncertainty over the path of U.S. monetary policy. Prices of the yellow metal surged nearly…
U.S. dollar advances vs major currencies as risk appetite fades
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose against major currencies on Wednesday in choppy trading, gaining safe-haven bids as risk appetite worsened with stocks on the defensive amid hawkish comments from U.S. Federal Reserve officials that suggested more interest rate increases are likely to tame inflation. Analysts, however, remained convinced…
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