Sterling, euro rally against dollar after BoE buys UK bonds
By Sinéad Carew and Alun John NEW YORK/LONDON (Reuters) – After tumbling earlier, sterling rallied against the dollar on Wednesday following the Bank of England’s (BOE) purchase of UK government bonds, letting some air out of the greenback’s progress broadly after it had touched a fresh 20-year high. The BoE said it received…
Asia FX Battered by Hawkish Fedspeak, Dollar Back at 20-Year Peak
By Ambar Warrick Investing.com– Asian currencies plummeted on Wednesday, while the dollar surged to new 20-year highs on hawkish comments from Federal Reserve officials and growing safe haven demand. The dollar index jumped 0.4% to a new 20-year high of 114.68, while dollar index futures rose in a similar range. A broad market…
Yen rallies after Japan intervenes with first support since 1998
By Gertrude Chavez-Dreyfuss and Alun John NEW YORK/LONDON (Reuters) – The Japanese yen soared across the board on Thursday after monetary authorities intervened in the foreign exchange market to boost the battered currency for the first time since 1998, although analysts said Japan may struggle to keep the yen strong. The dollar was…
U.S. dollar soars to two-decade high as Fed flags more large hikes
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar surged to a fresh two-decade high on Wednesday after the Federal Reserve raised interest rates by another 75 basis points and signalled more large increases at its upcoming meetings. Dollar gains were limited since the Fed decision was widely expected. Still, since U.S. rates will…
Dollar ascendant as investors gear up for Fed
By Rae Wee SINGAPORE (Reuters) – The dollar hovered near a two-decade peak against a basket of currencies on Wednesday, after yields on U.S. Treasuries leaped ahead of an interest rate decision that is likely to set the tone in financial markets for months to come. The U.S. dollar index, which measures the…
Dollar holds ground ahead of Fed, yuan under pressure
By Rae Wee SINGAPORE (Reuters) – The dollar eased from multi-year highs on Friday after a strong rally earlier in the week, though expectations that the Federal Reserve would need to hike more to keep inflation in check sent Treasury yields higher and kept the greenback in demand. The towering dollar pushed the…
Gold Slips Below $1,700, Copper Subdued as Fed Jitters Persist
By Ambar Warrick Investing.com– Spot gold prices traded below a key support level on Thursday, extending recent declines as concerns over more hawkish measures by the Federal Reserve continued to chip away at metal markets. Spot gold was largely unchanged after finishing the prior session around $1,697.42 an ounce, while gold futures fell…
Gold Steadies Above $1,700, But U.S. CPI Surprise Darkens Outlook
By Ambar Warrick Investing.com– Gold prices held just above the $1,700 mark on Wednesday, remaining under pressure after stronger-than-expected U.S. inflation data pointed to more dollar strength in the coming weeks. Spot gold was steady around $1,701.87 an ounce, while December gold futures fell 0.3% to $1,712.25 an ounce by 19:21 ET (23:21…
Dollar eases back from recent gains as focus on U.S. inflation data; euro jumps
By Caroline Valetkevitch NEW YORK (Reuters) – The dollar fell to its lowest level in more than two weeks against a basket of currencies on Monday following recent strong gains, as investors grew nervous ahead of U.S. inflation data and as central banks outside of the United States appeared increasingly hawkish. The euro…
U.S. dollar rises vs yen as Fed reinforces hawkish stance; euro falls
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar gained against the yen on Thursday, climbing in nine of the last 10 sessions, after Federal Reserve Chair Jerome Powell reiterated that the U.S. central bank will continue to raise interest rates in order to tame surging inflation and warned against prematurely loosening monetary…
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