U.S. dollar slumps after weak data; markets betting Fed near end of hiking cycle
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar sank to a two-month low on Tuesday as another round of weak economic data reinforced investor bets that the Federal Reserve is nearly done with its tightening cycle even as other central banks are seen still raising interest rates to overcome persistently high…
Dollar slides on sluggish US data, Aussie steadies ahead of RBA
By Rae Wee SINGAPORE (Reuters) – The dollar wobbled on Tuesday after a slump in U.S. manufacturing activity last month pointed to further signs of a slowing economy and trumped renewed inflation concerns following OPEC+’s surprise output cut. The Institute for Supply Management (ISM) survey showed on Monday that manufacturing activity fell to…
Dollar up vs euro but remains on track for weekly loss after inflation data
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against the euro on Friday but was on track for its fifth straight weekly loss against the common currency, after slower U.S. consumer spending growth boosted hopes the Federal Reserve would be less aggressive in hiking interest rates. U.S. consumer spending rose moderately…
Dollar rebounds as banking fears fade; yen falls on quarter-end flows
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against most major peers on Wednesday, reversing some of its recent declines, and gained sharply against the yen, which was volatile as the end of the Japanese fiscal year approaches. The dollar index, which measures the currency against six rivals, was 0.18% higher…
Dollar on the defensive as banking fears ebb; yen drops
By Kevin Buckland TOKYO (Reuters) – The safe-haven U.S. dollar remained on the back foot on Wednesday following two days of losses as global financial markets regained a measure of stability on hopes a full-blown banking crisis can be averted. The dollar index, which tracks the currency against six major peers, was flat…
Safe-haven dollar slides as bank fears ease; yen surges
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar slid for a second day against major peers on Tuesday as receding fears of a full-blown banking crisis sapped demand for the safest assets. The yen, traditionally also a safe haven, however, rebounded strongly for overnight losses, with analysts pointing to likely repatriation of…
Dollar steady after Fed’s rate pause hints, yen rises
By Ankur Banerjee SINGAPORE (Reuters) – The dollar was steady on Friday near seven-week lows as nervousness over the banking system kept investors skittish and traders absorbed the Federal Reserve’s hints of a pause to interest rate hikes. The dollar index, which measures the currency against six major rivals, fell 0.019% at 102.56,…
Dollar falls after Fed raises rates, indicates one more hike ahead
By Hannah Lang WASHINGTON (Reuters) – The dollar slid on Wednesday after the U.S. Federal Reserve raised its key rate by a quarter of a percentage point, as widely expected, and pointed to just one more rate hike this year. The Fed projected at least one additional interest rate increase of 25 basis…
Dollar holds its breath as market awaits Fed policy decision
By Hannah Lang WASHINGTON (Reuters) – The dollar pared earlier losses and sterling fell on Tuesday as traders reckoned banking stress could keep the Federal Reserve and the Bank of England from hiking interest rates much further, or at all, later in the week. Investors’ focus has moved to a slew of central…
Dollar languishes as bank crisis fears ebb on Credit Suisse rescue
By Rae Wee SINGAPORE (Reuters) – The dollar regained some ground on Tuesday but was pinned near a five-week low as traders tiptoed back into riskier assets after UBS’ state-backed takeover of Credit Suisse allayed some fears of a widespread, systemic banking crisis. Market sentiment remained fragile, however, as investors struggled to determine…
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