Dollar gains as pound tumbles on cooling UK inflation
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar bounced on Wednesday after inflation in the United Kingdom cooled more than economists expected in June, sending the pound sharply lower against other major currencies. Britain’s rate of inflation was its slowest in over a year at 7.9%, according to data that will…
Dollar bounces from 15-month low on strong core U.S. retail sales
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar rose from a 15-month low against a basket of currencies on Tuesday after core retail sales saw strong gains in June, as investors wait on the Federal Reserve’s interest rate decision next week. Headline U.S. retail sales rose less than expected in June,…
Dollar buckles on US disinflation signs as Fed nears end of hiking cycle
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar sank to its lowest since April 2022 on Thursday, as cooling U.S. inflation bolstered expectations the Federal Reserve would hike interest rates just one more time this year, eroding the greenback’s yield advantage over its peers. Against a basket of six currencies, the dollar…
US dollar stumbles, drops to more than one-year low as inflation eases in June
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar crashed to its lowest in more than a year on Wednesday after data showed the rise in U.S. consumer prices moderated in June, suggesting the Federal Reserve may have to raise interest rates only one more time this year. The dollar index dropped to…
Dollar dives to two-month low, pound scales 15-month peaks on wage growth data
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar declined to a two-month low against a major currency index on Tuesday after Federal Reserve officials signaled that the U.S. central bank is near the end of its tightening cycle, while sterling hit a 15-month high after pay growth exceeded expectations. Against the yen,…
US dollar drops to three-week low as Fed rate hikes nearly done
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar sank to a three-week low on Monday after comments by Federal Reserve officials reinforced market expectations that the U.S. central bank is near the end of its tightening cycle. The Fed, however, is widely expected to raise interest rates by another 25 basis points…
Dollar eases after strong labor market reports
By Herbert Lash NEW YORK (Reuters) -The dollar eased after a brief rebound on Thursday as data showing the U.S. labor market remains strong increased chances the Federal Reserve will raise interest rates later this month. Private payrolls surged in June in the biggest rise since February 2022, an ADP National Employment report…
Dollar gains after Fed minutes reinforce rate hike expectations
By Herbert Lash NEW YORK (Reuters) -The U.S. dollar edged higher against other major currencies on Wednesday after minutes from the Federal Reserve’s June policy meeting reinforced market expectations of another interest rate hike at the end of July. Almost all Fed officials agreed to hold interest rates steady last month and most…
Yen firms amid intervention chatter, trading subdued on US holiday
By Harry Robertson and Ankur Banerjee LONDON/SINGAPORE (Reuters) – The dollar fell against the yen on Tuesday as markets remained on high alert for signs of Japanese intervention, but the broader market was placid with U.S. traders off for a public holiday. The greenback was down 0.28% at 1340 GMT to 144.26 yen,…
Dollar little changed after ISM data, yen below 145 threshold
By Herbert Lash and Joice Alves NEW YORK/LONDON (Reuters) -The dollar was little changed on Monday against a basket of major trading currencies and gained against a yen that’s under intervention watch after the Japanese finance minister warned last week of excessive moves in the currency market. The dollar initially weakened on news…
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