Dollar hits 20-year high as data support aggressive Fed
By John McCrank NEW YORK (Reuters) -The dollar index vaulted to a 20-year high on Thursday, and notched a 24-year peak against the rate-sensitive Japanese yen, after U.S. data showed a resilient economy, giving the Federal Reserve more room to aggressively hike interest rates to quell inflation. The U.S. currency firmed after a…
China’s Yuan Slips, Japanese Yen at 24-Yr Low Ahead of U.S. Nonfarm Payrolls
By Ambar Warrick Investing.com– China’s yuan fell on Thursday amid more signs of a manufacturing slowdown in the country, while the Japanese yen slumped to a 24-year low as the dollar strengthened ahead of key U.S. payrolls data this week. The yuan fell 0.2% to 6.9027, shrugging off a stronger midpoint fix by…
Dollar edges higher as oversized Fed rate hike bets rise
By John McCrank NEW YORK (Reuters) – The dollar edged higher on Tuesday, but was below the 20-year high it hit a day earlier, while the euro broke back above parity, as markets priced in super-sized interest rate hikes by the U.S. Federal Reserve and the European Central Bank (ECB). The greenback has…
Dollar eases off of 20-year high as euro boosted by rates view
By John McCrank NEW YORK (Reuters) -The dollar touched a fresh 20-year high on Monday, lifted by hawkish comments by Federal Reserve Chair Jerome Powell, but was kept in check as the euro was boosted by growing expectations for European Central Bank (ECB) rate hikes. The dollar index, which measures the currency’s value…
Dollar hits 20-year high as Fed flags higher rates for longer
By Rae Wee SINGAPORE (Reuters) – The U.S dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer to bring down soaring inflation. The dollar index scaled to a fresh two-decade peak of 109.44 in…
Dollar edges lower as investors wait on Fed’s Powell
By Karen Brettell NEW YORK (Reuters) – The dollar index slipped while the euro was steady on Thursday in choppy trading as investors awaited Federal Reserve Chairman Jerome Powell’s speech on Friday for further clues about the pace of the U.S. central bank’s rate hikes. Investors are tossing up between the likelihood of…
Euro edges back towards two-decade low as energy supply crunch adds to growth fears
By Samuel Indyk LONDON (Reuters) – The U.S. dollar recouped some data-inspired losses on Wednesday and edged back towards recent peaks, while the euro remained under pressure amid growing recession fears fuelled by a possible energy supply crunch. Disappointing U.S. services and manufacturing surveys released on Tuesday and a plunge in new home…
Dollar rises on risk aversion; euro revisits parity
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar rose across the board on Monday, driving the euro back below parity, as investors shied away from riskier assets amid growing fears that interest-rate hikes in the United States and Europe, aimed at curbing inflation, would weaken the global economy. Against a basket…
Dollar jumps as Fed officials say more rate hikes needed
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar index surged to a one-month high on Thursday as Federal Reserve officials spoke of the need for further rate hikes, and investors reevaluated Wednesday’s minutes from the U.S. central bank’s July meeting as being more hawkish than originally thought. The Fed needs to…
Dollar firm as Fed digs in for protracted inflation fight
By Tom Westbrook SINGAPORE (Reuters) – The dollar was on the front foot on Thursday after minutes from the Federal Reserve’s July meeting pointed to U.S. interest rates staying higher for longer to bring down inflation. The greenback gained most against the Antipodeans, especially the Aussie, which was dragged down as weaker-than-expected wage…
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