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…
Dollar gains, euro slips further from parity
By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) -The dollar marched higher on Tuesday after a report on the U.S. services industry in August reinforced the view that the United States was not in recession, while the euro and rate-sensitive Japanese yen tumbled further against the greenback. The dollar index rose 0.547%…
Dollar pauses broad rally, bulls still solidly positioned
By Rae Wee SINGAPORE (Reuters) – The dollar took a breather on Tuesday after a sweeping rally, easing slightly from milestone highs on the euro, yen and sterling, but not too far as recession stalk Europe and U.S. interest rates are poised for sharp rises. The euro was up 0.4% to $0.9963 in…
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