Dollar sags as Fed decision looms; yen surges
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar slipped from near a one-week peak versus major peers on Wednesday, with traders on tenterhooks before a looming Federal Reserve rate decision that should also give clues on the future policy path. The yen outperformed, seeing a sudden burst of strength mid-morning Japan time,…
U.S. dollar rises as Fed likely doing another big hike; sterling sinks
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar gained across the board on Monday, regaining some of the luster it lost earlier in the month, bolstered by expectations of another supersized rate increase at this week’s Federal Reserve monetary policy meeting. That said, the dollar’s gains could be limited if the Fed…
Euro sinks more than 1% after ECB rate hike, U.S. GDP data
By John McCrank NEW YORK (Reuters) – The euro dropped more than 1% on Thursday, falling back below parity with the dollar, after the European Central Bank (ECB) raised interest rates and U.S. data showed that the world’s biggest economy rebounded more than expected in the third quarter. The ECB raised its deposit…
Dollar sells off on speculation of less hawkish Fed, euro regains parity
By John McCrank NEW YORK (Reuters) – The U.S. dollar sank more than 1% against a basket of peers on Wednesday as weakening economic data firmed views that the Federal Reserve will slow the pace of its rate hiking cycle, sending the euro back above parity with the greenback for the first time…
Sterling at 6-week high as Sunak becomes PM, while dollar sags
By John McCrank NEW YORK (Reuters) – Sterling rallied to a six-week high on Tuesday on improved risk sentiment as Rishi Sunak became Britain’s prime minister, while the dollar fell to a three-week low as weakening U.S. economic data cooled expectations on the pace of future U.S. rate hikes. The potential for foreign…
Dollar rises amid suspected BOJ intervention; pound choppy as Sunak gets top job
By John McCrank NEW YORK (Reuters) -The dollar edged higher on Monday despite another suspected foreign exchange intervention by Japan, while sterling was choppy after Rishi Sunak was picked to become Britain’s third prime minister in the last seven weeks, and China’s offshore yuan fell to a record low. The yen hit a…
Yen hits weakest level since 1990, pound down after PM announces resignation
By Karen Brettell NEW YORK (Reuters) – The dollar surpassed the symbolic level of 150 yen for the first time since 1990 on Thursday, while the British pound turned negative in choppy trading after Liz Truss said she would resign as the United Kingdom’s prime minister. The Japanese currency dipped sharply from an…
Dollar gains with Treasury yields, sterling tumbles on hot inflation
By Karen Brettell NEW YORK (Reuters) – The dollar bounced from two-week lows on Wednesday as benchmark 10-year Treasury yields rose to 14-year highs, while sterling weakened after hotter-than-expected UK consumer price inflation fueled concerns about a deeper recession. The greenback hit a 32-year peak against the yen, approaching the 150 level at…
Dollar higher but gains in check as risk appetite rebounds
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar edged higher against a basket of currencies on Tuesday, shaking off some of the weakness of the previous session, but a revival in risk appetite in global financial markets kept a lid on its gains. “Yesterday’s risk-on vibe looks to be continuing…
Dollar dips as UK budget U-turn improves market sentiment
By Karen Brettell NEW YORK (Reuters) – The dollar dipped against a basket of major currencies and sterling jumped on Monday after Britain’s new finance minister ditched most of the government’s “mini-budget”, while better than expected earnings from Bank of America (NYSE:BAC) helped to boost risk appetite. Investors are also focused on whether…
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