U.S. dollar strengthens as Fed minutes signal higher rates
By Laura Matthews NEW YORK (Reuters) – The dollar strengthened on Wednesday after U.S. Federal Reserve meeting minutes showed policymakers are determined to use a slower pace of interest-rate hikes to tame persistently high inflation. The greenback rose in late trading, sending sterling down 0.58% to $1.2036, while the euro fell 0.44% to…
Dollar advances as strong U.S. data backs higher rates backdrop
By Gertrude Chavez-Dreyfuss and Laura Matthews NEW YORK (Reuters) – The U.S. dollar held gains against a basket of currencies on Thursday, bolstered by stronger-than-expected producer prices and falling jobless claims, hinting that the Federal Reserve would have to maintain its inflation-fighting interest rate hikes for longer. Earlier, the dollar index hit six-week…
Dollar hits six-week high vs yen; rises from two-week low after U.S. inflation data
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar hit a six-week high against the yen and recovered from a roughly two-week low against a basket of major currencies on Tuesday as data for January showing the smallest annual increase in U.S. consumer prices since October 2021 did not alter market expectations that…
Dollar falls as markets consolidate gains; up vs yen ahead of inflation data
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell on Monday in choppy trading after last week’s strong rally, weighed down by firmer stocks and lower long-dated Treasury yields, as investors consolidated positions ahead of Tuesday’s crucial U.S. consumer price index (CPI) data. The greenback, however, rose to six-week highs against the…
Dollar flat after Fed official comments; focus on CPI data next week
By Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar was little changed on Thursday as investors looked ahead to next week’s U.S. inflation data and digested comments from a slew of Federal Reserve officials who said modest interest rate rises were on the way. Moving to a federal funds rate of between 5.00%…
Dollar slips after Powell strikes balanced tone on inflation
By Rae Wee and Harry Robertson SINGAPORE/LONDON (Reuters) – The dollar fell on Wednesday after Federal Reserve Chair Jerome Powell declined to meaningfully harden his tone on inflation in a closely-watched speech, despite last week’s very strong employment numbers. In a question-and-answer session before the Economic Club of Washington on Tuesday, Powell said…
Dollar extends rebound as U.S. data supports; yen slips
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar jumped to a four-week high against the euro on Monday, as last week’s blockbuster U.S. jobs report raised the likelihood of the U.S. Federal Reserve keeping on with its inflation-fighting interest rate hikes for longer. The euro slipped 0.6% against the dollar to…
Euro, sterling dip as investors assess rate outlook
By Karen Brettell NEW YORK (Reuters) – The euro dipped against the dollar on Thursday after the European Central Bank raised interest rates by a widely expected 50 basis points, while the Bank of England adopted a more dovish tone on inflation. The ECB penciled in at least one more hike of the…
Dollar slumps to 9-month low on expectations of dovish Fed pivot
By Ambar Warrick Investing.com– The dollar tumbled to a nine-month low against a basket of currencies on Thursday, even after the Federal Reserve reiterated its commitment to keep hiking interest rates, with markets betting that the ensuing economic headwinds will force the bank into cutting rates as soon as this year. The dollar…
Wage data dents dollar recovery before Fed rate decision
By Karen Brettell NEW YORK (Reuters) – The dollar fell on Tuesday, giving up earlier gains, after data showed U.S. labor costs increased less than expected in the fourth quarter, and before the Federal Reserve is expected to hike rates by 25 basis points on Wednesday. The Employment Cost Index, the broadest measure…
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