Dollar near one-year high as Fed tightening in focus
By Kevin Buckland TOKYO (Reuters) – The dollar hovered near a one-year high versus major peers on Thursday, following a two-day surge amid expectations for a tapering of Federal Reserve stimulus from November and a possible interest rate hike in late 2022. The safe-haven greenback also saw a bid on worries the Fed…
Dollar stands tall as traders brace for tapering
By Tom Westbrook SINGAPORE (Reuters) – The dollar traded near its highest levels of the year on Wednesday, after driving higher with U.S. yields and benefiting from investor nervousness about the Federal Reserve starting to withdraw policy support just as global growth headwinds gather. The dollar rose broadly overnight to lift the dollar…
Yen weakens to 111 per dollar as U.S. Treasury yields soar
By Kevin Buckland TOKYO (Reuters) – The yen traded near an almost three-month low to the dollar and reached a two-week trough versus the euro on Tuesday, as rising bond yields in the U.S. and Europe lured Japanese investors. The yen was little changed at 110.985 per dollar, not far from Monday’s low…
Gold Up as China Evergrande Concerns Continue
By Gina Lee Investing.com – Gold was up on Monday morning in Asia, with risk appetite decreasing as concerns over China Evergrande Group’s (HK:3333) debt situation, and its potential economic impact, continue. Gold futures were up 0.43% to $1,759.30 by 11:40 PM ET (3:40 AM GMT). China’s Ministry of Housing and Urban-Rural Development…
6 FOMC Takeaways, but Evergrande USD Payment is Biggest Risk
By Kathy Lien Investors drove the U.S. dollar sharply higher after the Federal Reserve made it very clear that they are ready to reduce asset purchases. According to Fed Chairman Jerome Powell, it is “time to begin taper” and “if the economy progresses as expected, they may move at the next meeting.” But…
FOMC Preview: Will Fed Give Taper Start Date?
By Kathy Lien There are only 3 more Federal Reserve monetary policy announcements before the end of the year. If Fed Chairman Jerome Powell wants to give the market ample time to prepare for tapering asset purchases, they will need to make some type of announcement tomorrow. There’s no doubt that the topic…
Correlations Tight As Dow Meltdown Triggers FX Crash
By Kathy Lien This is one of the busiest trading weeks of the year and for this very reason, volatility in the stock market as measured by the VIX rose to its highest level in 4 months. The Dow Jones Industrial Average tumbled more than -900 points intraday, settling down -600. The S&P…
Dollar holds upper hand after retail sales boost
By Hideyuki Sano TOKYO (Reuters) – The dollar held near three-week highs against a basket of major currencies on Friday after a raft of strong U.S. economic data rekindled expectations for earlier policy tightening by the U.S. Federal Reserve. U.S. retail sales unexpectedly increased in August, rising 0.7% from the previous month despite…
Dollar sluggish as traders bide time before Fed meeting; kiwi jumps
By Kevin Buckland TOKYO (Reuters) – The dollar drifted near the middle of its range of the past month versus major peers on Thursday, as traders looked to next week’s Federal Reserve policy meeting for indications on how soon the U.S central bank will start to taper stimulus. The New Zealand dollar jumped…
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